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Aditya Birla Sun Life AMC ends lower after underperforming peers in September

Aditya Birla Sun Life AMC ends lower after underperforming peers in September

Aditya Birla Sun Life AMC ends lower after underperforming peers in September
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By CNBCTV18.com Oct 28, 2022 4:02:33 PM IST (Published)

Equity QAAUM during the quarter increased 2 percent to Rs 1.19 lakh crore.

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Shares of Aditya Birla Sun Life AMC ended nearly 5 percent lower on Friday after the company underperformed its peers in the September quarter.
The asset manager's Quarterly Average Assets Under Management (QAAUM) increased 0.4 percent sequentially in the September quarter. When compared to peers, their QAAUM grew between 2 percent to 8 percent during the quarter. In absolute terms, Aditya Birla Sun Life AMC's QAAUM stood at Rs 2.93 lakh crore.
Equity QAAUM during the quarter increased 2 percent to Rs 1.19 lakh crore.
Yields during the quarter were also the lowest compared to peers at 0.42 percent while those like UTI AMC, Nippon AMC and HDFC AMC had yields between 0.47 percent and 0.75 percent respectively.
For the September period, the company's revenue increased 3 percent to Rs 311 crore from the June quarter while operating profit margin remained flat at 56 percent.
Net profit for the period nearly doubled to Rs 192 crore aided by other income of Rs 77 crore. During the September quarter last year, other income was a negative Rs 31 crore.
Shares of Aditya Birla Sun Life AMC ended 4.4 percent lower at Rs 414.75.
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