Reliance AMC posts Rs 276 cr net profit
The company's profit after tax grew by over five per cent from Rs 261 crore in the previous fiscal 2011-12. Its profit after tax also grew by five per cent 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
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