 "AMC")
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
