Street View: India's ICICI Prudential Asset misses operating profit estimates on higher costs

ICICI Prudential Asset Management

14/07/2026 06:32

** India's asset management co ICICI Prudential Asset Management Co IICL.NS reported on Monday a 23% Y/Y growth in profit for its first quarter 
** The company's June-quarter operating profit at 11 billion rupees ($114.4 million) missed street expectations on higher costs
** Shares of IICL down 2.4% 

SUB-HEAD
** Jefferies ("Buy," PT: 3,770 rupees) says operating profit missed its estimates by 4% due to lower revenue and higher employee costs
** Emkay ("Buy," PT: 4,000 rupees) says EBITDA margin at 72.4% dipped sequentially, as the base quarter benefited from lower employee cost
** JP Morgan ("Overweight," PT: 3,960 rupees) says EBIT came in below estimates
** HSBC ("Buy," PT: 3,800 rupees) says a large part of AUM market share loss was driven by differential in MTM and muted SIP trends
** CLSA ("Outperform," PT: 3,650 rupees) says operating profit declined 3% sequentially due to higher employee cost
** BofA  ("Neutral," PT: 3,600 rupees) says blended margins down 2 bps Q/Q, mainly driven by rise in opex 
** Bernstein ("Outperform," PT: 3,510 rupees) says IICL acquired 7 of every 10 new customers coming to the industry in Q1
** Morgan Stanley ("Equal-weight," PT: 3,320 rupees) says operating profit was below its estimates on higher employee costs, management expects employee costs to trend at similar levels in FY27 as in Q1
** UBS ("Buy," PT: 3,900 rupees) says management attributed the slowdown to category mix and MTM dynamics rather than market-share loss


($1 = 96.1475 Indian rupees)

 (Reporting by Vijay Malkar in Bengaluru)
 ((VijayDattaram.Malkar@thomsonreuters.com; Mobile: +91 8097833031;))