ICICI Prudential Asset Management Company LimitedQ2 FY27 Results & Financial Update
ICICI Prudential Asset Management Company Limited: Q2 FY27 standalone results and company financials – revenue ₹1,673.79 Cr, PAT ₹888.96 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore ICICI Prudential Asset Management Company Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
ICICI Prudential Asset Management Company reported operational revenue of INR 1,673.79 crore for the quarter ended September 30, 2026, marking a 7.00% sequential increase compared to INR 1,564.22 crore in the preceding quarter ended June 30, 2026.
Total income for Q2 FY27 stood at INR 1,690.70 crore, reflecting a 3.11% decline over the previous quarter's total income of INR 1,745.02 crore, primarily driven by lower other income items during the period.
Profit before tax (PBT) for the quarter was recorded at INR 1,197.70 crore, down 6.48% sequentially from INR 1,280.65 crore in Q1 FY27.
Profit after tax (PAT) for Q2 FY27 stood at INR 888.96 crore, representing a 7.85% decrease compared to INR 964.63 crore reported in the June 2026 quarter, resulting in a PAT margin of 53.11%.
Basic earnings per share (EPS) for the quarter stood at INR 17.99, compared to INR 19.51 in the previous quarter.
According to the investor presentation and performance highlights, the company achieved total mutual fund quarterly average assets under management (QAAUM) of INR 11,608.19 billion, capturing a market share of 13.3%.
The company's board declared an interim dividend of INR 30 per equity share for the period ended September 30, 2026, with October 21, 2026 fixed as the record date.
During the quarter, the company entered into a Business Transfer Agreement with ICICI Securities Limited to acquire its entire portfolio management services business on a slump sale basis, subject to regulatory approvals.
01 · Business model
What does ICICI Prudential Asset Management Company do?
ICICI Prudential Asset Management Company Limited is a prominent Indian asset management institution incorporated in 1993, operating with a history of over 30 years in the financial services sector.
The company's core operations encompass managing mutual funds, providing portfolio management services (PMS), managing alternative investment funds (AIFs), and offering advisory services to offshore clients.
ICICI Prudential AMC delivers a diversified suite of financial asset classes designed to address varied client objectives and risk appetites, ranging from short-term income accrual to long-term wealth creation.
Distribution is enabled through an extensive network comprising over 118,000 empanelled distribution partners across mutual fund distributors, national distributors, and banks, supported by 287 physical offices and a team of 3,694 employees serving 17.8 million customers.
02 · Historical context
What shaped the business before this quarter
Incorporated in 1993, the company evolved over three decades into one of India's leading asset management firms.
Effective April 1, 2026, the company acquired investment management rights for identified Category II Alternative Investment Funds from ICICI Venture Funds Management Company Limited pursuant to a Business Transfer Agreement dated September 22, 2025.
Previously, the company implemented the Employees Stock Option Scheme 2025 and the Employees Stock Unit Scheme 2026 to grant share-based incentives to eligible employees.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹1,673.79 Cr | ₹1,564.22 Cr |
| Total income | ₹1,690.70 Cr | ₹1,745.02 Cr |
| Profit before tax | ₹1,197.70 Cr | ₹1,280.65 Cr |
| Profit after tax | ₹888.96 Cr | ₹964.63 Cr |
| EPS | ₹17.99 | ₹19.51 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Mutual fund operations continued to be the primary revenue engine, supported by growth in active mutual fund QAAUM reaching INR 9,594.87 billion.
Equity schemes and equity hybrid schemes grew to INR 6,591.81 billion and INR 2,288.58 billion in QAAUM respectively, commanding strong market shares of 13.7% and 26.4%.
Alternates and PMS QAAUM expanded to INR 809.65 billion, encompassing PMS QAAUM of INR 307.91 billion, AIF QAAUM of INR 242.60 billion, and advisory assets under management of INR 259.14 billion.
What drove margins
Fees and commission expenses increased to INR 132.85 crore during the quarter compared to INR 123.69 crore in Q1 FY27, reflecting distribution costs associated with asset growth.
Employee benefits expenses rose to INR 212.77 crore from INR 203.99 crore in the previous quarter, driven by team expansion and share-based compensation recognition.
Other expenses stood at INR 113.20 crore, up from INR 103.89 crore in Q1 FY27.
05 · Demand, customers & order book
Where demand is coming from
Unique customers grew to 17.8 million as of September 30, 2026, up from 15.5 million a year ago.
Monthly systematic investment plan (SIP) and systematic transfer plan (STP) inflows for September 2026 stood at INR 46.72 billion.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company's financial results reflect a single primary business segment comprising investment management services provided to mutual funds, portfolio management services, alternative investment funds, and advisory clients.
Geography and market mix
Operations are serviced through a network of 287 offices, which includes a branch in Dubai and a branch in Gift City, catering to a customer base of 17.8 million.
07 · Strategy & new businesses
How the company is trying to change its growth mix
On September 23, 2026, the company entered into a Business Transfer Agreement with ICICI Securities Limited to acquire its entire Portfolio Management Services business and identified employees on a slump sale basis, pending regulatory approval from SEBI.
The company advanced its digital stack modernization focusing on customer engagement, isolated disaster recovery, operational efficiency, and automation through agentic AI.
08 · Reported developments
What changed operationally
The Board of Directors approved an interim dividend of INR 30 per equity share for the period ended September 30, 2026.
Total mutual fund QAAUM reached INR 11,608.19 billion, reflecting a 14.4% year-on-year expansion with a 13.3% market share.
09 · Items worth noticing
The line items that can distort a quick read
Total tax expense for Q2 FY27 was INR 308.74 crore, comprising current tax of INR 305.96 crore and deferred tax charge of INR 2.78 crore.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities for the half year ended September 30, 2026, was INR 1,688.23 crore.
Net cash used in investing activities for H1 FY27 was INR 1,165.20 crore, while net cash used in financing activities stood at INR 642.33 crore, largely driven by dividend payouts.
Capital allocation & funding
Finance cost for Q2 FY27 was reported at INR 4.75 crore, remaining flat compared to INR 4.74 crore in Q1 FY27.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Auditor Review
The financial results for the quarter and half year ended September 30, 2026, were subjected to a limited review by statutory auditors Walker Chandiok & Co LLP.
12 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations increased by 7.00% to INR 1,673.79 crore in Q2 FY27 from INR 1,564.22 crore in Q1 FY27, while total income adjusted to INR 1,690.70 crore due to normalization in other income.
13 · Key Q&A
The quarter, answered directly
What does ICICI Prudential Asset Management Company do?
ICICI Prudential Asset Management Company Limited is a prominent Indian asset management institution incorporated in 1993, operating with a history of over 30 years in the financial services sector.
What is the clearest takeaway from Q2 FY27?
ICICI Prudential Asset Management Company reported operational revenue of INR 1,673.79 crore for the quarter ended September 30, 2026, marking a 7.00% sequential increase compared to INR 1,564.22 crore in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Mutual fund operations continued to be the primary revenue engine, supported by growth in active mutual fund QAAUM reaching INR 9,594.87 billion.
What mattered most for margins or profitability?
Fees and commission expenses increased to INR 132.85 crore during the quarter compared to INR 123.69 crore in Q1 FY27, reflecting distribution costs associated with asset growth.
What changed operationally beyond the headline numbers?
On September 23, 2026, the company entered into a Business Transfer Agreement with ICICI Securities Limited to acquire its entire Portfolio Management Services business and identified employees on a slump sale basis, pending regulatory approval from SEBI.
What should the next disclosure help confirm?
Completion of regulatory formalities and receipt of SEBI approval for the proposed acquisition of ICICI Securities' PMS business.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
SEBI Approval for PMS Acquisition: Completion of regulatory formalities and receipt of SEBI approval for the proposed acquisition of ICICI Securities' PMS business.
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