SBI Funds Management Q2 profit falls 6% to ₹693.5 crore despite 9% revenue growth; QAAUM rises 10% to ₹13.1 lakh crore

SBI Funds Management on Friday reported a 6% year-on-year (YoY) decline in standalone net profit to ₹693.5 crore for the September quarter of FY27, compared with ₹740.8 crore in the corresponding quarter last year, as higher expenses and lower other income weighed on profitability.

Revenue from operations, comprising asset management fees, rose 9% YoY to ₹1,187.4 crore in Q2 FY27 from ₹1,091.3 crore a year earlier, according to the company's earnings report.

Total income increased 3% to ₹1,230.1 crore, compared with ₹1,196 crore in the year-ago quarter, as other income declined 59% to ₹42.7 crore from ₹104.7 crore.

Total expenses rose 24% YoY to ₹297.2 crore in Q2 FY27 from ₹239.2 crore in the corresponding quarter last year.

For the first half of FY27, revenue from operations rose 12% YoY to ₹2,336.1 crore, while total income increased 4% to ₹2,614.9 crore. Net profit declined 1% to ₹1,566.3 crore from ₹1,585.8 crore in H1 FY26. Total expenses climbed 16% to ₹538.9 crore.

QAAUM rises 10% YoY to ₹13.1 lakh crore

SBI Funds Management's quarterly average assets under management (QAAUM) stood at ₹13.1 lakh crore for the quarter ended September 30, 2026, up 10% year-on-year. The company retained its position as India's largest mutual fund manager, with a market share of 15%, it said.

Actively managed equity QAAUM increased 9% YoY to around ₹9 lakh crore, with a market share of 12.4%. Passive QAAUM grew 11% to ₹4.2 lakh crore, representing a market share of 27.4% and maintaining the company's leading position in the segment.

Systematic investment plan (SIP) assets under management rose 15% YoY to ₹2.07 lakh crore, with a market share of 12.3%, according to the company.

The company's alternate assets under management, comprising alternative investment funds (AIFs), portfolio management services (PMS), advisory and offshore funds, stood at ₹13.3 lakh crore. AIF QAAUM was around ₹7,437 crore, up 27% year-on-year.

SBI Funds Management had 1.85 crore unique customers as of September 30, up 10% YoY, while live folios increased 12% to 2.3 crore. Its distribution network comprised more than 1.35 lakh empanelled partners across mutual fund distributors, national distributors and banks.

The company said its quarterly performance was supported by healthy equity and passive flows, sustained SIP momentum and rising retail participation, alongside continued investments in people and technology.

SBI Funds Management made its stock market debut on July 21, 2026, after raising ₹9,795 crore through its initial public offering (IPO).