You are here: Home » Companies » Results
Business Standard

Reliance AMC posts Rs 276 cr net profit for FY12

Reliance Capital Asset Management managed Rs 1,40,853 cr as on March 31, 2012

Press Trust of India  |  New Delhi 

Reliance Capital Asset Management Company, which runs Anil Ambani-led Reliance group's mutual fund business, has posted a net profit of Rs 276 crore for the fiscal year 2011-12.

The company's profit after tax grew by over 5% from Rs 261 crore in the previous fiscal 2011-12. Its profit after tax also grew by 5% to Rs 308 crore in the fiscal ended March 31, 2012.

Reliance Capital AMC (Asset Management Company) had overtaken HDFC AMC as the country's most profitable fund house during the previous fiscal 2010-11 and has managed to retain its leadership position.

In the latest fiscal 2011-12, Reliance AMC was followed by HDFC AMC as the second most profitable fund house and the latter's profit after tax grew to Rs 269 crore from Rs 242 crore.

During the fiscal 2009-10, HDFC AMC was the most profitable with a profit after tax of Rs 208 crore, followed by Reliance AMC (Rs 195 crore), UTI AMC (Rs 170 crore) and ICICI Prudential (Rs 128 crore).

However, HDFC AMC slipped to second slot in 2010-11, while UTI remained at the thirst position with Rs 138 crore, followed by Franklin Templeton (Rs 97 crore), Birla Sunlife (Rs 85 crore) and ICICI Pru (Rs 72 crore), among others.

The latest fiscal (2011-12) figures are as yet not available for UTI and Franklin Templeton mutual funds, while Birla Sunlife and ICICI Pru have posted profit after tax of Rs 59 crore and Rs 88 crore, respectively.

Reliance Capital Asset Management managed Rs 1,40,853 crore ($27.5 billion) as on March 31, 2012, across mutual funds, pension funds, managed accounts and hedge funds.

Reliance Mutual Fund figures among the top two mutual funds in India, in terms of AUM, with market share of nearly 12 per cent and its average AUM stood at Rs 78,112 crore for the period ended March 31, 2012.

Nippon Life, largest private life insurer in Asia, recently signed final agreements to acquire a 26% stake in RCAM -- making it the largest FDI in Indian mutual fund space and the largest investment in any Indian AMC.

The transaction, under which Nippon Life is investing Rs 1,450 crore for 26% stake, pegs RCAM's valuation at approximately Rs 5,600 crore ($1.1 billion).

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, May 22 2012. 14:53 IST