CEO of the leading AMC in India Resigns
The company announced the resignation of Mr. Vikas Gautam, CEO - International Business (Senior Management Personnel) of the company.
Aditya Birla Sun Life AMC Limited announced the resignation of Mr. Vikas Gautam, CEO - International Business (Senior Management Personnel) of the company. The resignation is attributed to personal commitments and has been duly accepted by the company. Mr. Gautam’s last working day will be December 31, 2024.
Mr. Gautam in the letter stated “I would like to express my deep gratitude to the organization for providing me with the opportunities to work in International Business in different roles over the last 16 years.
Q2 FY25 performance:
Aditya Birla Sun Life AMC reported strong performance in Q2 FY25. The total Assets Under Management (AUM), including alternate assets, reached Rs 4 lakh crore, showing a 24 per cent increase compared to the same period last year. The company added 19 lakh new investor folios in the quarter, taking the total to over 1 crore. SIP inflows during the quarter were over Rs 1,400 crore, marking a 47 per cent rise year-on-year.
The total revenue for the quarter stood at Rs 520 crore, a 33 per cent increase from Rs 391 crore in Q2 FY24. Profit after tax was Rs 242 crore, which is 36 per cent higher than Rs 178 crore reported in the same quarter last year.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
About the Company:
Aditya Birla Sun Life AMC, established in 1994 as a joint venture between Aditya Birla Capital Ltd and Sun Life AMC, is one of India’s leading Asset Management Companies. It manages AUM of Rs 4 lakh crore across mutual funds, portfolio management services, offshore offerings, and real estate offerings.
Stock Price performance:
In Wednesday's intraday session, the company's stock was trading at Rs 820.55, down 1.23 per cent from the previous close. The current market capitalization of the company stands at Rs 23,661.91 crore. The stock is up over 80 per cent from its 52-week low of Rs 450.25.
Disclaimer: The article is for informational purposes only and not investment advice.