It’s raining money for top 10 AMCs

The FY 2024 ended on a positive note for the top 10 AMCs.

These fund houses have made gross profit of Rs.13450 crore in FY 2024 compared to Rs.9721 crore in FY 2023. In terms of net profit, these fund houses made Rs. 10449 crore in FY 2024 as against Rs.7514 crore in FY 2023.

Overall, the top 10 fund houses made 32 bps on the assets they manage.

What’s the total profit of the top 10 fund houses?

ICICI Prudential AMC, SBI AMC and HDFC AMC were the top three fund houses in terms of gross profit or profit before taxes.

ICICI Prudential led the pack with gross profit of Rs.2700 crore in FY 2024. The fund house saw 34% growth in its profit before taxes in one year. The fund house managed AUM of Rs.6.83 lakh crore in March 2024, indicating that the fund house made 39 bps on the total AUM.

SBI AMC wasn’t far behind ICICI Prudential AMC. The fund house recorded gross profit of Rs.2674 crore in FY 2024 compared to Rs.1771 crore, a massive 51% growth. The fund house made 29 bps on its total assets. 

HDFC AMC recorded gross profit of Rs.2480 crore in FY 2024.

Nippon India AMC and Aditya Birla Sun Life  witnessed gross profits of over Rs.1000 crore with profit before tax of Rs.1352 crore and Rs.1008 in FY 2024, respectively.

Let’s look at the table to know more:

Note: Mirae Asset AMC’s number are as on December 2023

But what are the net numbers?

The rank changes slightly if we look at the net profit numbers. Here, SBI AMC takes the lead with profit after taxation of Rs.2062 crore. The fund house saw its net profit number increase by 54% in one year.

Not far behind is ICICI Prudential AMC with net profit of Rs.2050 crore in FY 2024.

HDFC AMC and Nippon India AMC occupied the third and fourth spots with net profit of Rs.2050 crore and Rs.1946 crore and Rs.1107 crore, respectively.

These four fund houses recorded net profits in excess of Rs.1000 last financial year.

Here is the table with complete information on net profits of top 10 fund houses:

Note: Mirae Asset AMC’s number are as on December 2023

How much do they make?

In terms of proportion of gross profits with respect to the total assets, HDFC AMC, ICICI Prudential AMC and UTI AMC are the top three players.

HDFC AMC made 40 bps on the total AUM, the highest among the top 10 players. ICICI Prudential AMC and UTI AMC made 39 bps and 34 bps profits on their total AUM.

Here is the table on the proportion of gross profits with respect to the total assets:

Note: Mirae Asset AMC’s number are as on December 2023