The top nine fund houses recorded a combined net profit of Rs 979 crore as against Rs 931 crore the previous year.
The top nine AMCs (excluding Franklin Templeton) have recorded a combined profit growth of 5% in FY12 at Rs 979 crore as against Rs 931 crore the previous year. Six out of the top ten fund houses saw an increase in their profitability. Franklin Templeton’s results were not available yet as it follows an October - September year for its financial results.
Reliance AMC held its mantle as the industry’s most profitable fund house. It posted a 6% increase in its net profit from Rs 261 crore in FY11 to Rs 276 crore in FY12 even while its AUM fell from Rs 1.01 lakh crore in FY11 to Rs 78,112 crore in FY12.
“Most AMCs saw an increase in their fixed income assets, especially in FMPs. The industry saw some positive inflows in equity in between but the trend was largely negative. Some of the large AMCs have kept up the momentum in gathering assets,” says Dhruva Raj Chatterji, Senior Research Analyst, Morningstar India.
HDFC AMC recorded the second highest profits. Its net profit increased 11% from Rs 242 crore in FY11 to Rs 269 crore in FY12.
IDFC MF swung back to profitability by clocking a net profit of Rs 10 crore as against a net loss of Rs 3 crore the previous year. This was due to an increase in its assets and a marginal drop in expenses. Its AUM went up from Rs 21,851 crore in March 2011 to Rs 25,450 crore in March 2012 while its expenses dropped by 1%. It had earlier posted a net profit of Rs 2 crore in 2009-10.
The profits of ICICI Prudential rose from Rs 72 crore in FY11 to Rs 88 crore in FY12. DSP BlackRock’s profits grew from Rs 47 crore in FY11 to Rs 50 crore in FY12. Kotak’s PAT too increased from Rs 11 crore in FY11 to Rs 14 crore in FY12.
UTI, Birla Sun Life and SBI recorded a dip in their profits.
