Recently Listed: How did ICICI Prudential AMC perform in Q3 FY26? 

Synopsis: ICICI Prudential AMC delivered a strong Q3 FY26, with revenue rising 23.5% YoY to Rs 1,515 crore and profit jumping 45% to Rs 917 crore, and also declared a dividend of Rs 14.85, which is 1,485%. Higher AUMs, operating leverage, and disciplined costs underscored a solid post-listing performance.

This company is India’s largest active mutual fund asset manager by QAAUM and is a JV between ICICI Bank Ltd and Prudential Corporation Holdings, which operates across mutual funds, PMS, AIFs, and offshore advisory services and declared their results yesterday. Let us decode the result in detail. 

With the market cap of Rs 1,35,206 crore, the shares of ICICI Prudential Asset Management Co Ltd have closed at Rs 2,735 on Wednesday. The shares are trading at a PE of 46, whereas their industry PE is at 29.7, and the shares have given a return of 5.5% since their listing in December 2025.

Financial Performance & Dividend Announcement

ICICI Prudential AMC had a strong and steady quarter on the revenue front. Revenue from operations came in at Rs 1,514.7 crore in Q3 FY26, up 23.5% YoY compared to Rs 1,227 crore and 6.7% QoQ compared to Rs 1,420 crore, respectively. 

The more telling story is in profits. Net profit rose to Rs 917.1 crore, a sharp 45.2% YoY increase from Rs 632 crore and close to a 10% QoQ increase from Rs 835 crore. This kind of outperformance versus revenue suggests operating leverage is beginning to show, the costs are not rising as fast as income, and scale is starting to work in the company’s favour. 

The growth largely mirrors better market conditions and higher average assets under management. The AUM for the company is at Rs 6.08 lakh crore, a growth of 24% from Rs 4.92 lakh crore in Q3 FY25.

Costs, margins and dividends

Costs remained largely under control. Employee and commission expenses increased, as expected, with business growth, but there were no signs of huge financial impact. Even after taking a one-time hit linked to the implementation of new labour rules, margins stayed resilient. That speaks to the inherent strength of the AMC model, where growth does not require a proportional increase in costs.

Another positive is the quality of earnings this quarter. The improvement was driven by the core investment management business rather than treasury gains or accounting adjustments, even though other incomes have also increased, helping the growth in profit. Strong cash generation allowed the company to declare an interim dividend of Rs 14.85 per share, of which the record date is fixed on 21 January, 2026, which is 1,485%, a meaningful signal of confidence, especially so soon after listing.

All things considered, the numbers point to a business that is settling into a more stable and efficient growth phase. Revenue visibility is improving, profits are scaling faster than income, and cash flows remain healthy. For investors, this quarter reinforces ICICI Prudential AMC’s position as a high-quality, cash-generative play on India’s long-term savings and mutual fund growth story.

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