Recently listed SBI Funds reported a 39% rise in its net profit in Q1FY27. The fund house saw its consolidated net profit rise from about Rs 634 crore to Rs 880 crore on a quarter-on-quarter basis. Majority of this rise was due to a rise in other income by Rs 283 crore.
The consolidated revenue from operations of the fund house saw a marginal upward tick from Rs 1,139 crore to Rs 1,153 crore during the quarter. On a year-on-year basis, the fund house’s net profit grew by close to 4% from Rs 849 crore.
The fund house continued to retain its leadership position in the industry with quarterly average assets of Rs 12.6 lakh crore, recording an 11% rise on a year-on-year basis. The market share of the fund house stood at 15.1%. Equity segment saw a 10% year-on-year rise in assets while passive segment grew by 12%. Alternates assets including PMS, AIF, advisory and offshore funds grew by 29% on a year-on-year basis.
The fund house also recorded SIP assets of Rs 2 lakh crore, marking a 15% year-on-year rise and a market share of 12.3%. The customer base was up 12%, standing at 18.2 million.