Aditya Birla Sun Life AMC’s (ABSLAMC) 4QFY25 operating revenue grew 17% YoY to ~INR4.3b (in line), leading to a ~0.9bp YoY improvement in yield on management fees to 44.9bp (vs. our est. of 45.4bp). For FY25, revenue grew 25% YoY to INR16.8b.