Mutual Funds

SBI Funds Management on August 3 reported a 3.7% year-on-year rise in consolidated net profit for the June quarter, aided by sustained domestic inflows into mutual funds, marking its first earnings announcement since its stock market debut in July.

The asset manager posted a consolidated net profit of Rs 880 crore for the quarter ended June 30, compared with Rs 849 crore a year earlier.

Domestic equity mutual funds continued to attract strong inflows during the quarter as steady retail participation underpinned the market despite continued selling by foreign portfolio investors. Analysts said improved valuations following the January-March correction and expectations of an earnings recovery in the second half of the fiscal year helped support investor inflows.

The joint venture between State Bank of India and Europe’s largest asset manager, Amundi, had attracted bids worth about $31 billion for its $1.3 billion initial public offering, making it India’s fourth-most-subscribed IPO. The stock has declined about 4% since its listing.

Consolidated revenue from operations rose nearly 15% year-on-year to Rs 1,153 crore. However, a sharp decline in other income to Rs 237 crore from a year ago partly offset the revenue growth.

The asset manager said its performance during the June quarter was supported by healthy inflows into equity and passive funds, sustained SIP contributions, rising retail participation and continued investments in technology and digital infrastructure.

Average assets under management (QAAUM) for its mutual fund business rose 11% year-on-year to Rs 12.6 lakh crore during the quarter ended June 30, retaining its position as the country’s largest mutual fund manager with a 15.1% market share. Actively managed equity QAAUM increased 10% to Rs 8.6 lakh crore, while passive QAAUM grew 12% to Rs 4 lakh crore, giving the company an industry-leading 27.4% share in passive funds.

Alternate assets under management, comprising AIFs, PMS, advisory and offshore funds, stood at Rs 16.5 lakh crore, while AIF QAAUM rose 29% year-on-year to about Rs 6,800 crore.

The company’s SIP AUM increased 15% year-on-year to Rs 2 lakh crore as of June 30, with a 12.3% market share. Its customer base grew 12% to 1.82 crore, while total live folios rose 14% to 2.2 crore.

Operating profit climbed 17% year-on-year to Rs 907 crore during the quarter, while profit after tax rose 37% sequentially to Rs 873 crore.

With agency inputs

Aug 03 2026, 21:04