ICICI Prudential AMC Q1 Results: Net profit rises 23% YoY to Rs 965 crore; revenue up 18%

ICICI Prudential AMC on Monday reported a 23% year-on-year (YoY) growth in its net profit at Rs 965 crore in the first quarter, compared with Rs 784 crore in the last year period. Revenue from operations, meanwhile, increased 18% YoY to Rs 1,564 crore.

Total income for the quarter stood at Rs 1,745 crore, up 18% from Rs 1,477 crore a year earlier. Sequentially, total income rose 20% from Rs 1,452 crore, helped by other income of Rs 181 crore against a loss of Rs 90 crore in the previous quarter.

Profit before tax rose 21% YoY to Rs 1,281 crore from Rs 1,062 crore. On a quarter-on-quarter basis, PBT increased 22% from Rs 1,046 crore.


The company’s total expenses rose 12% YoY to Rs 464.4 crore. Employee benefit expenses stood at Rs 204 crore, up 11% from Rs 184 crore a year earlier and 45% higher than Rs 141 crore in the March quarter.

Fees and commission expense increased to Rs 124 crore from Rs 103 crore a year earlier. Other expenses stood at Rs 104 crore, compared with Rs 98 crore in the year-ago quarter.

ICICI Prudential AMC's profitability remained strong, with profit before tax margin at 81.87% of revenue from operations. Profit after tax margin stood at 61.67%.

The results come at a time when listed asset management companies are in focus ahead of SBI Funds Management's IPO. ICICI Prudential AMC remains one of the larger listed players in the industry and is often compared with HDFC AMC, Nippon Life India AMC and other asset managers.

On Monday, ahead of the results, ICICI Pru AMC shares closed 1.6% higher at Rs 3,210 on NSE.