Large fund houses reported healthy growth in profitability in the last fiscal, benefiting from sustained equity inflows and economies of scale built over the years. HDFC MF, the second-largest AMC in terms of assets managed, clocked a net profit of Rs 7.22 billion in 2017-18, 31 per cent higher than the Rs 5.5 billion clocked in the previous fiscal.
ICICI Prudential MF, the largest AMC, saw profits rise 30 per cent to Rs 6.25 billion, while that of Reliance MF rose 26 per cent to Rs 5.04 billion over the same period. The aggregate net profit in FY18 for 34 fund houses grew above 40 ...
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