ICICI Pru is the most profitable AMC in FY 2023

An analysis of financial disclosure of top 10 fund houses reveals that ICICI Prudential, HDFC and SBI were the top three AMCs in terms of net profit or profit after taxation (PAT) in FY 2023.

ICICI Prudential AMC leads the pack with net profit of over Rs.1500 crore in FY 2023. The fund house saw its PAT grow by 4% from Rs.1450 crore in FY 2022.

HDFC AMC followed ICICI Prudential AMC for the second spot with net profit of close to Rs.1425 crore. The listed AMC saw marginal growth of 2% in its profitability in FY 2023.

Among the top 10 fund houses, SBI AMC, which occupied the third position with net profit of Rs.1400 crore, witnessed the highest growth in absolute terms. The fund house recorded a healthy growth of 30% in its net profits.

Aditya Birla Sun Life AMC and Nippon India AMC occupied the fourth and the fifth position, respectively in terms of net profits.

In absolute terms, Aditya Birla Sun Life AMC and Kotak Mahindra AMC saw the second and the third highest growth in profit numbers in FY 2023.

Overall, the top nine fund houses saw net profit of Rs.7300 crore in FY 2023, 8% higher compared to Rs.6800 crore in FY 2022. Please note the data of Mirae Asset Mutual Fund is not available since the AMC considers Jan-Dec as the financial year to disclose the data.

Here is the list of the top 10 AMCs based on their AUM in March 2023.

Please note the data of Mirae Asset Mutual Fund is not available since the AMC considers Jan-Dec as the financial year to disclose the data.