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The mutual fund industry's profits are likely to hit a three year high, based on estimated earnings for the two fund houses yet to declare their results.
The total profits are estimated to come in at nearly Rs 860 crore for the financial year ending in 2013, going by past trends for these asset managers.
So far 41 fund houses have declared their results, which has taken industry profit to Rs 763.66 crore. Revenue is at Rs 4,791.88 crore for the financial year ending in 2013, according to data from mutual fund tracker Value Research.
This climbs to around Rs 860 crore and Rs 5,134 crore if one goes by estimates based on average numbers in previous years for the firms yet to declare their results.
Franklin Templeton and Quantum are two mutual funds yet to declare their annual results. The average profits for the former over the last four years, for which data is available, suggests that the current year's profits could be in excess of Rs 90 crore, with a revenue of over Rs 330 crore. The corresponding numbers for Quantum are Rs 3 crore and Rs 12 crore respectively.
HDFC Mutual Fund had a net profit of Rs 318.75 crore. Reliance Mutual Fund had a net profit of Rs 228.99 crore while UTI Mutual Fund saw its net profit at Rs 148.9 crore.
