Aditya Birla Sun Life AMC stock plunges nearly 9% after Q3 earnings fail to cheer investors

The scrip of the company declined 8.77% to Rs 587 apiece on the National Stock Exchange (NSE).

New Delhi: Shares of Aditya Birla Sun Life AMC plunged nearly 9 per cent in the mid-session deals on Tuesday after the company's December quarter earnings failed to cheer investors.

The scrip of the company declined 8.77 per cent to Rs 587 apiece on the National Stock Exchange (NSE).

On the BSE, it slumped 8.4 per cent to Rs 588.90 per piece.

The markets were trading in positive territory. The 30-share BSE Sensex jumped 776.44 points or 1.03 per cent to 76,142.61. The broader NSE Nifty climbed 208.95 points or 0.92 per cent to 23,038.10.

On Monday, Aditya Birla Sun Life AMC reported a 7 per cent growth in Profit After Tax (PAT) to Rs 224.5 crore for three months ended December 2024.

The company posted a PAT of Rs 209.3 crore in the same quarter preceding fiscal, the asset management firm said in a regulatory filing.

Revenue from operations surged 30 per cent to Rs 445.1 crore in the October-December quarter of the current fiscal against Rs 341.5 crore a year ago.

Aditya Birla Sun Life Mutual Fund's Assets Under Management (AUM) reached Rs 3.84 lakh crore at the end of December 2024, reflecting a 23 per cent year-on-year growth, it added.