The Indian Mutual Fund industry earns profits of Rs.15,760 crore, a rise of 43% in one year..!

The Indian Mutual Fund industry earns profits of Rs.15,760 crore, a rise of 43% in one year..!

 

An analysis of annual reports of 42 fund houses done by Cafemutual shows that the MF industry has earned gross profits of Rs.15,760 crore i 2023-24 as against Rs.11,040 crore in  2022-23, a growth of 42% in just a year.

A rough calculation indicates that the MF (Mutual Fund) industry has made 0.29% on the assets they manage in 2023-24.

What's the total profit of the fund houses?

Most profitable fund Companies..!

In terms of gross profits or profit before taxes, ICICI Prudential AMC, SBI AMC and HDFC AMC were the most profitable fund houses in FY 2024.

ICICI Prudential AMC remained the leader in the industry with gross profit of Rs.2,700 crore in FY 2024. The fund house saw 34% growth in its profit before taxes in one year.

Not so far behind was SBI AMC with gross profit of Rs.2,674 crore in FY 2024. HDFC AMC saw gross profit of Rs.2,480 crore in FY 2024.

Nippon India AMC and Aditya Birla Sun Life AMC occupied the next two spots with gross profits of over Rs.1,000 crore.

Motilal Oswal AMC entered the top 10 list of fund houses in terms of gross profits and captured the ninth position in the list. The fund house saw its profits going up by 200% to reach Rs.683 crore in FY 2024 from Rs. 227 crore in FY 2023.

Other fund houses in the top 10 list in terms of gross profits were – UTI, Kotak Mahindra, Axis and DSP.

Among the top 20 fund houses, HSBC AMC recorded the highest growth in its gross profit numbers. The AMC witnessed gross profits of Rs.237 crore in FY 2024 compared to Rs.38 crore in FY 2023, a massive growth of over 500% in just a year. This is due to completion of the merger between HSBC AMC and L&T AMC in late FY 2023. 

Across all fund houses, LIC AMC saw the highest growth of 900% in its gross profitability.

Of the 42 fund houses, 14 AMCs recorded a loss while 3 AMCs witnessed a decline in their gross profits.

Let us look at the table to know more:

AMCs

Gross Profit FY 2024

Gross Profit FY 2023

Change

Change in %

ICICI Prudential

2698

2007

691

34%

SBI

2674

1771

903

51%

HDFC

2478

1871

607

32%

Nippon India

1352

928

424

46%

Aditya Birla Sun Life

1008

788

220

28%

UTI

987

586

401

68%

Kotak Mahindra

771

552

219

40%

Axis

713

578

135

23%

Motilal Oswal

683

227

456

201%

DSP

405

363

42

12%

Mirae Asset*

364

277

87

31%

360 One

303

336

-33

-10%

Franklin Templeton

296

277

19

7%

Tata

256

150

106

71%

HSBC

237

38

199

524%

Canara Robeco

195

107

88

82%

Bandhan

179

118

61

52%

Sundaram

147

100

47

47%

PPFAS

137

102

35

34%

Quant

110

36

74

206%

Invesco

91

48

43

90%

Edelweiss

38

18

20

111%

Union

20

18

2

11%

NJ

17

19

-2

-11%

Taurus

10

4

6

150%

LIC

10

1

9

900%

Baroda BNP Paribas

3

-7

10

-143%

Samco

0.75

-3

3.75

-125%

Helios

-0.38

1

-1.38

-138%

Bank of India

-1

-8

7

-88%

Old Bridge

-3

0.6

-3.6

-600%

Shriram

-6

-4

-2

50%

Zerodha

-7

-4

-3

75%

Quantum

-11

-9

-2

22%

PGIM India

-17

-29

12

-41%

Trust

-21

-6

-15

250%

Navi

-24

-17

-7

41%

Mahindra Manulife

-28

-31

3

-10%

ITI

-32

-41

9

-22%

Groww

-39

3

-42

-1400%

WhiteOak Capital

-65

-88

23

-26%

Bajaj Finserv

-167

-38

-129

339%

Total

15761.37

11039.6

4721.77

43%

Note: While the data of Mirae Asset India AMC is of December 2023, Franklin Templeton AMC's data is of September 2024
Note: The data of JM Financial AMC could not be obtained. 

But what are the net numbers?

In terms of net profits, the MF industry has recorded net profits of Rs.12,200 crore as against Rs.8300 crore in FY 2023, a growth of 47%.

Net profit is derived after deducting all expenses like operation, taxation and so on.

Of the 42 AMCs, 28 AMCs were profitable in FY 2024. Of the profitable companies, 3 AMCs recorded a decline in their net profits. Overall, SBI AMC became the most profitable fund house last financial year with net profits of Rs.2062 crore. 

ICICI Prudential AMC and HDFC AMC were the next two in the list with net profits of Rs.2050 crore and Rs.1946 crore, respectively.

Nippon India AMC also recorded net profit in excess of Rs.1000 crore.Other fund houses in the top 10 were Aditya Birla Sun Life, UTI, Kotak Mahindra, Motilal Oswal, Axis and DSP.

Overall, 14 companies reported net loss with Bajaj Finserv AMC witnessing the highest loss of Rs.129 crore followed by Groww AMC with loss of Rs.40 crore in FY 2024.

Here is the table on net profits:

AMCs

Net profit
FY 2024

Net profit
FY 2023

Change

% Change

SBI

2062

1340

722

54%

ICICI Prudential

2050

1516

534

35%

HDFC

1946

1424

522

37%

Nippon India

1107

723

384

53%

Aditya Birla Sun Life

780

596

184

31%

UTI

766

437

329

75%

Kotak Mahindra

591

430

161

37%

Motilal Oswal

570

170

400

235%

Axis

558

430

128

30%

DSP

310

280

30

11%

Mirae Asset

279

212

67

32%

360 One

238

252

-14

-6%

Franklin Templeton

223

205

18

9%

Tata

196

111

85

77%

HSBC

193

14

179

1279%

Canara Robeco

151

79

72

91%

Bandhan

142

88

54

61%

Sundaram

112

85

27

32%

PPFAS

103

77

26

34%

Invesco

89

45

44

98%

Quant

83

26

57

219%

Edelweiss

38

18

20

111%

Union

15

13

2

15%

NJ

14

15

-1

-7%

LIC

10

1

9

900%

Taurus

7

4

3

75%

Baroda BNP Paribas

6

-7

13

-186%

Samco

0.78

-2

2.78

-139%

Helios

-0.35

1

-1.35

-135%

Bank of India

-1

-8

7

-88%

Old Bridge

-3

0.4

-3.4

-850%

Zerodha

-5

-3

-2

67%

Shriram

-7

-4

-3

75%

Quantum

-11

-9

-2

22%

PGIM India

-17

-29

12

-41%

Trust

-20

-7

-13

186%

Navi

-24

-17

-7

41%

Mahindra Manulife

-28

-31

3

-10%

ITI

-32

-41

9

-22%

Groww

-38

3

-41

-1367%

WhiteOak Capital

-65

-88

23

-26%

Bajaj Finserv

-167

-38

-129

339%

Total

12221.43

8311.4

3910.03

47%

Note: While the data of Mirae Asset India AMC is of December 2023, Franklin Templeton AMC's data is of September 2024

Note: The data of JM Financial AMC could not be obtained. 

 

Share:

No comments:

Post a Comment

Popular Posts

Blog Archive

Recent Posts

Featured Post

Indian Mutual Fund Investors Folios are at all-time high at 22.08 Crores..!

Highlights AMFI Mutual Fund Industry Monthly Data for November 2024   Indian Mutual Fund Investors Folios are at all-time high at  22.08 Cro...