SBI Funds Management net up 4% in Q1
Revenue from operations increased 15% to ₹1,153 crore (₹1,001 crore)
SBI Funds Management, India's leading mutual fund firm, disclosed a 4% increase in its net profit for the first quarter of the year, reaching ₹880 crore compared to ₹849 crore in the same period last year. Revenue from operations rose by 15% to ₹1,153 crore, while other income decreased by 28% to ₹237 crore. The average quarterly asset under management grew by 11% to ₹12.51 lakh crore, with equity AUM increasing by 12% to ₹5.90 lakh crore.
Debt and liquid funds saw an 11% rise in average quarterly AUM to ₹1.61 lakh crore. Inflows through the Systematic Investment Plan saw a 14% increase to ₹4,000 crore year-on-year, although on a sequential basis, it decreased by 2%. The SIP AUM expanded by 15% to ₹2.06 lakh crore. The number of unique customers rose by 12% to 1.82 crore.
Passive quarterly average AUM increased by 12% year-on-year to ₹4 lakh crore. Alternate AUM, which includes AIF, PMS, Advisory, and Offshore funds, was reported at ₹16.5 lakh crore for the quarter ending June. The fund house reported total reserves of ₹6,498 crore at the end of the quarter. The company's shares were down marginally at ₹588 per share on Monday.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
