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Profits went down for AMCs in the first quarter (Q1) of FY 2023. After HDFC MF, Aditya Birla Sun Life MF and UTI MF have also reported a 34-39% fall in their bottom lines.
The first quarter results released by ABSL MF shows that its profit slipped 34% to Rs. 103 crore in April-June 2022 from Rs. 155 crore in April-June 2021. Operating revenue of the fund house remained flat at Rs. 304 crore.
UTI MF's profit declined 39% y-o-y to Rs.94 crore. In the corresponding quarter of last financial year, the profit stood at Rs. 155 crore. Its operating revenue decreased by 15% to Rs. 293 crore.
HDFC AMC, which announced the results last week, reported a 9% fall in profit at Rs. 314 crore. However, its revenue from operations went up 3% to Rs. 522 crore.
|
ABSL AMC |
||
|
Quarter |
Profit |
Operating Revenue |
|
Q1 FY 2023 |
103 |
304 |
|
Q1 FY 2022 |
155 |
303 |
|
Change |
-33.63 % |
0.43% |
|
UTI AMC |
||
|
Quarter |
Profit |
Operating Revenue |
|
Q1 FY 2023 |
94 |
293 |
|
Q1 FY 2022 |
155 |
344 |
|
Change |
-39% |
-15% |
Business highlights for Q1 (ABSL MF):
- Fund house added 2 lakh folios during the quarter
- SIP inflows in June stood at Rs. 898 crore from 32 lakh accounts. Around 2.80 lakh new SIP accounts were registered during the period
Business highlights for Q1 (UTI MF):
- Average AUM stood at Rs. 2.24 lakh crore. Equity schemes accounted for 70% of the AUM
- Gross inflows through SIPs amounted to Rs. 1,550 crore and SIP AUM stood at Rs. 17,778 crore
