Business Standard

Listed asset management companies see subdued profit growth in Q2

The brokerage has set a March 2024 target of Rs 2,470 for HDFC AMC and Rs 400 for Nippon India AMC

Nippon Life India, HDFC AMCs: Surprise winners among financial stocks
Premium

Analysts expect profits to remain under pressure in the near term on account of higher costs and indolent growth in assets under management (AUM)

Abhishek Kumar
Listed asset management companies (AMCs) reported muted growth in profitability in the July-September quarter of 2022-23 (FY23). The growth comes despite multiple headwinds, such as poor equity market performance, outflows from debt funds, and rise in expenditure.

Growth in profit was by virtue of strong inflows into equity funds, surge in investment income, and rising revenue from non-mutual funds (MF).

Aditya Birla Sun Life AMC recorded the highest growth in net profit among listed AMCs as non-operating income rose 90 per cent year-on-year. The AMC reported a net profit of Rs 191 crore for the September quarter, up 11 per

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 31 2022 | 6:15 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com