Aditya Birla Sun Life Asset Management Company reported 38 per cent rise in its second quarter net profit at ₹173 crore against ₹125 crore logged in the same period last year.

Revenue from operations was up 30 per cent at ₹332 crore against ₹255 crore registered last year. It has announced an interim dividend of ₹5.60 per share.

The AMC’s quarterly average AUM of mutual fund business was up 26 per cent at ₹3.12 lakh crore (₹2.39 lakh crore) while equity asset increased 41 per cent to ₹1.16 crore (₹82,200 crore).

Growth in assets

Fixed income asset was up 18 per cent at ₹1.84 lakh crore (₹1.56 lakh crore). Inflow through systematic investment plan increased 7 per cent to ₹867 crore (₹812 crore) through 2.99 million accounts while SIP asset stood at ₹50,200 crore (₹35,000 crore). It registered new SIPs of about 3.20 lakh which is an increase of 110 per cent.

The monthly average asset from beyond top 30 cities increased 23 per cent to ₹48,100 crore and contributed 16 per cent of the total AUM. ABSL AMC serviced 7.3 million folios in the quarter under review.

A Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC said the sustained growth in SIP book, equity AUM, B-30 assets, folio count and differentiated product offerings have contributed towards the growth.

“We remain committed towards profitable growth by focussing further on operational efficiencies and building the business with a combination of our broader retail customer acquisition strategy, along with alternate products and enhanced services, thus catering to the needs of a wide array of investors,” he said.

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