Aditya Birla Sun Life AMC reports 8% YoY revenue growth for Q2 FY24

Aditya Birla Sun Life AMC Limited (ABSLAMC) has rolled out its unaudited financial outcomes for the quarter and half-year concluding on September 30, 2023. A notable increment in Revenue from Operations was observed with an 8% year-on-year growth, moving from Rs. 3,111 million to Rs 3,350 million. Moreover, the Operating Profit took a leap by 5% year-on-year, advancing from Rs. 1,728 million to Rs. 1,811 million.

Mutual Fund Landscape: A Bright Picture

Aditya Birla Sun Life AMC reported a mutual fund QAAUM growth of 10% year-on-year, reaching a whopping Rs. 3,109 billion. Further insight reveals that the Equity Mutual Fund QAAUM expanded by 9% year-on-year, totaling Rs. 1,302 billion, with the equity mix positioned at 42% of the overall Mutual Fund QAAUM.

Business Highlights & Expanding Digital Footprint

Aditya Birla Sun Life AMC’s total QAAUM, inclusive of alternate assets, marked a 10% year-on-year growth, totaling Rs. 3,235 billion for the quarter that ended in September 2023. The equity realm wasn’t far behind, with the Equity Mutual Fund QAAUM observing a 9% year-on-year growth.

Interestingly, the digital arena for Aditya Birla Sun Life AMC has flourished, as approximately 83% of the total transactions for the half-year ending September 2023 were conducted digitally. Additionally, a striking 78% of the new folios were added through digital means.

Monthly systematic flows, including STP, were noted at Rs. 9.68 billion for September 2023, catering to around 3.23 million accounts. Aditya Birla Sun Life AMC’s extensive reach was highlighted with its servicing of over 76,300 KYD-compliant MFDs, 300+ National Distributors, and 85+ Banks through more than 290 locations.