Aditya Birla Sun Life AMC Q2 Results October 21, 2026: Profit Falls 8.4% to ₹221 Crore

Aditya Birla Sun Life AMC Q2 results, announced on Wednesday, October 21, 2026, showed a fund house that is growing its fee income slowly while its costs run much faster. Consolidated net profit fell 8.4% from a year ago to ₹221 crore. The stock dropped as much as 7% after the numbers came out, then clawed back almost all of it by the close.

Aditya Birla Sun Life AMC Q2 results: the numbers

According to the consolidated results filed with NSE, revenue from operations for the September quarter was ₹483.81 crore. That is up 4.9% from ₹461.32 crore a year ago and 4.5% from ₹462.96 crore in the June quarter.

Profit is where it hurts. Net profit came in at ₹220.98 crore against ₹241.32 crore in the same quarter last year, a fall of 8.4%. Compared with the June quarter’s ₹309.49 crore, profit was down 28.6%. Profit before tax slipped 6.2% year on year to ₹296.19 crore.

The sharp quarter-on-quarter drop has a simple reason. Other income, mostly what the company earns on its own investments, fell to ₹42.38 crore from ₹162.39 crore in the June quarter, a drop of about 74%. That June figure was itself well above the ₹45.15 crore of other income a year earlier, so the sequential fall looks worse than the underlying business.

Costs grew four times faster than revenue

The bigger worry is on the expense side. Total expenses rose 20.5% year on year to ₹230 crore from ₹190.87 crore, while revenue grew under 5%. Employee costs did most of the damage, rising about 33% to ₹126.26 crore from ₹95.09 crore. Against the June quarter they were up 8.5%.

The company’s investor presentation and press release show operating profit before tax, which strips out other income, at ₹254 crore. That is 6% lower than a year ago, though 4% higher than the June quarter.

AUM, SIPs and market share

Here is how the business itself looked, per the presentation:

• Mutual fund AUM: quarterly average assets under management rose 4% year on year to ₹4.42 lakh crore.
• Equity AUM: equity mutual fund QAAUM grew 9% to about ₹2.09 lakh crore, and equity now makes up 47.4% of the mutual fund book.
• SIPs: monthly SIP inflows, including STPs, were about ₹1,094 crore in September from 41.7 lakh contributing accounts. Around 7.05 lakh new SIPs were registered in the quarter.
• Folios: the fund house serviced 1.14 crore investor folios as of September 30.

Overall QAAUM including alternate assets jumped 140% to about ₹11.06 lakh crore, but that is mostly a mandate effect. Mandate assets, which include the ESIC and EPFO mandate, accounted for about ₹6.53 lakh crore of the total.

CNBC-TV18 pointed out that QAAUM grew 3.3% from the June quarter, slower than the industry’s 5%. Mutual fund market share slipped another 10 basis points to 5.7%, and equity market share dipped 5 basis points to 3.9%. One bright spot it flagged: new SIP registrations rose from 5.47 lakh in the June quarter to 7.05 lakh. The profit was in line with CNBC-TV18’s poll estimate of ₹219 crore.

How the stock reacted

The stock fell as much as 7% intraday before recovering. Per Business Standard, carrying a PTI report, shares closed 0.57% lower at ₹954.10 on the BSE. CNBC-TV18 noted the stock had fallen 8% over the past month.

Our read: the profit fall was largely expected, which is why the market shrugged it off by the close. The real question for the next few quarters is market share. When assets grow slower than the industry and salaries rise by a third, margins get squeezed from both sides. Compare this with ICICI Prudential AMC’s Q2 results, and for the flows picture, read our piece on equity mutual fund redemptions.

Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or speak to a SEBI-registered adviser before making investment decisions.