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HDFC Mutual Fund has emerged as the most profitable fund house in 2012-13 with a profit after tax (PAT) of Rs 319 crore, amid weak equity markets, pushing rival Reliance Mutual Fund to the second slot.
According to an analysis of profit figures for fund houses available with industry body Amfi, HDFC MF, country's largest fund house, posted a PAT of 319 crore for the full year ended March 31, 2013, while Reliance MF registered a PAT of Rs 198 crore during the past fiscal.
In 2011-12, HDFC MF had a profit of Rs 269 crore, while Reliance MF had witnessed a profit of Rs 276 crore.
For the full year ended March 31, 2013, UTI Mutual Fund registered a PAT of Rs 149 crore and ICICI Prudential Mutual Fund's PAT stood at Rs 110 crore.
Of 44 fund houses, 23 made losses in the past fiscal, while overall the industry has posted a profit of Rs 758 crore.
Interestingly, only six Asset Management Companies' (AMCs) profit after tax has been Rs 50 crore.
Among other top fund houses, Franklin Templeton MF's profit after tax stood at Rs 90 crore, Birla Sun Life Mutual Fund (Rs 87 crore), SBI MF (Rs 86 crore), DSP BlackRock MF (Rs 57 crore), IDFC MF (Rs 27 crore) and Kotak Mahindra MF (Rs 3 crore)
The top five AMCs profit grew up by only 2.25% in the past fiscal, while profit of top 10 AMCs went up by 4%, as per Amfi data.
