India's ICICI Prudential Asset quarterly profit jumps in first report since IPO (updated)

ICICI Prudential Asset Management

14/01/2026 12:12

Adds details on results in paragraphs 5,6; background in paragraphs 4,7,8

BENGALURU, Jan 14 - India's ICICI Prudential Asset Management Company IICL.NS reported a steep rise in third-quarter profit on Wednesday, helped by robust domestic capital inflows in its first earnings since going public last month.

The largest and most valuable asset manager in the world's most populous country posted a 45% year-on year rise in profit to 9.17 billion rupees ($101.5 million) for the quarter ending December 31 while revenue grew 23.5% to 15.15 billion rupees.

The firm, a joint venture between India's second-largest private lender ICICI Bank ICBK.NS and British insurer Prudential PRU.L, made a robust trading debut on December 19 after its $1.2 billion IPO garnered bids worth $33 billion.

Hefty local flow into equity mutual funds, powered by retail investors, have helped cushion the market against relentless foreign outflows and aided the asset management business.

For ICICI Prudential Asset Management, other income, or gains in treasury and proprietary investments, came in at 1.09 billion rupees during the quarter, compared to a loss of 253.6 million rupees a year earlier.

Quarterly average assets under management for mutual funds grew 23% led by contributions from equity funds.

Earlier in the day, peer HDFC Asset Management HDFA.NS posted a 20% rise in quarterly profit.

UTI Asset Management UTIA.NS and recently-listed Canara Robeco Asset Management CANE.NS have yet to report.

($1 = 90.3410 Indian rupees)

 (Reporting by Urvi Dugar and Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

 ((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))