Aditya Birla Sun Life AMC Q2 FY27: net profit down 8%, income up 4%

Summary

Figures are in ₹ crore except EPS; YoY compares with Q2 FY26 and QoQ with Q1 FY27.

Costs grew faster than sales, so profit before tax fell. Revenue from operations rose 4.9% to ₹483.81 crore, but total expenses rose 20.5% to ₹230.00 crore, an increase of ₹39.16 crore against ₹22.49 crore more revenue. Profit before tax was ₹296.19 crore, down 6.2% from ₹315.63 crore.

Employee benefit expense was the largest rise, at ₹126.26 crore, up 32.8% from ₹95.09 crore. The filing does not give a reason for the increase.

Other income was ₹42.38 crore, down 6.1% from ₹45.15 crore a year earlier and down 73.9% from ₹162.39 crore in the June quarter. The half-year cash flow adds back ₹135.04 crore of fair valuation gains on investments, and the statement does not split that by quarter. The quarter had no exceptional items; a ₹2.82 crore charge for the new Labour Codes was booked in the year to 31 Mar 2026.

Tax expense was ₹75.21 crore, up 1.3% from ₹74.27 crore, and took 25.4% of profit before tax, against 23.5% a year earlier.

On the balance sheet, cash and cash equivalents were ₹48.08 crore at 30 Sep 2026, against ₹58.40 crore at 31 Mar 2026, and investments were ₹3,812.01 crore against ₹3,946.15 crore. For the six months to 30 Sep 2026, cash from operations after tax was ₹381.67 crore and capital spending was ₹12.12 crore, against ₹23.28 crore a year earlier. The company bought ₹1,950.65 crore of investments and sold ₹2,229.41 crore. The statement has no borrowings line; the financing outflows are dividends and lease payments.

S.R. Batliboi & Co. LLP issued unmodified review conclusions on both sets of results. For the consolidated figures it relied in part on other auditor reports for four subsidiaries. The company paid a final dividend of ₹25.50 a share for FY26, approved by shareholders at the annual general meeting on 29 Jul 2026, and the cash outflow for dividends in the six months was ₹737.62 crore.

Figures are in ₹ crore except EPS; YoY compares with Q2 FY26 and QoQ with Q1 FY27.

Standalone net profit followed the same pattern. It fell 8.4% to ₹224.21 crore as expenses rose 19.0% to ₹219.29 crore and revenue from operations rose 3.9% to ₹476.19 crore. Employee benefit expense rose 32.8% to ₹120.52 crore.

The standalone review conclusion is also unmodified. Standalone cash and cash equivalents were ₹24.88 crore at 30 Sep 2026, up from ₹14.43 crore at 31 Mar 2026.

What the results mean for shareholders

Basic EPS fell 8.6% to ₹7.64 on the consolidated numbers, from ₹8.36 a year earlier, and to ₹7.75 standalone, from ₹8.48. Consolidated net profit for the six months to 30 Sep 2026 was ₹530.47 crore, and the ₹737.62 crore dividend paid in the same period was larger than that figure.

The filing gives no guidance on future earnings or dividends and sets no date for a further step.

Reference: Original filing (PDF)