Adia-backed ICICI Prudential AMC net income rises 23%

AMC profit rides AUM growth: Adia-backed Indian asset manager ICICI Prudential Asset Management Company reported a 23.1% y-o-y and 25.4% q-o-q rise in its net income to INR 9.6 bn (USD 100 mn) in 1Q FY 2027, management said on the earnings call. Adia had picked up a stake in the company after Prudential sold a 4.5% stake through a pre-IPO placement worth INR 49 bn (USD 544.6 mn).

AUM drives earnings: The company’s operating revenue grew 17.6% y-o-y to INR 15.6 bn (USD 162 mn), with the company’s mutual fund assets under management (AUM) rising 18.3% y-o-y. ICICI Pru AMC ended the quarter with a 13.4% market share in India.

Debt was the weak spot: Institutional redemption and tighter liquidity led to a 6% sequential decline in average debt assets. The management linked part of the pressure to companies drawing down liquidity for working capital needs during the Iran war.

Why it matters: The results show India’s asset-management sector still benefiting from rising equity-linked assets and steady retail participation, even after market volatility during the war.