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SBI Funds Management reported a 20.3% QoQ drop in net profit to ₹701.2 crore for Q2 FY27, despite a 3.4% rise in revenue to ₹1,193 crore. EBITDA fell 1.2% QoQ to ₹913 crore, with margins contracting to 77%. Mutual fund QAAUM reached ₹13.1 lakh crore, driven by healthy equity flows, SIP momentum, and…
SBI Funds Management reported a 20.3% quarter-on-quarter decline in net profit to ₹701.2 crore in the second quarter of FY27, compared with ₹880.3 crore in the previous quarter as higher expenses weighed on earnings.
Total expenses rose to ₹3,011.76 million from ₹2,422.12 million, driven by higher employee benefit expenses, other expenses, depreciation and amortisation, finance costs, and fees and commission expenses.
Revenue rose 3.4% sequentially to ₹1,193 crore from ₹1,153.7 crore. EBITDA fell 1.2% to ₹913 crore from ₹923.8 crore, while the EBITDA margin narrowed to 77% from 80.1%.
The company said its performance during the quarter was supported by healthy equity and passive investment flows, sustained systematic investment plan (SIP) momentum, rising retail participation and continued investments in people and technology.
Business performance
SBI Funds Management’s quarterly average assets under management (QAAUM) in mutual funds stood at ₹13.1 lakh crore for the quarter ended September 30, 2026, up 10% year-on-year. Its market share was 15%.
QAAUM in actively managed equity funds rose 9% year-on-year to about ₹9 lakh crore, giving the company a market share of 12.4%. Passive QAAUM increased 11% to ₹4.2 lakh crore, with a market share of 27.4%.
Assets under management in SIPs stood at ₹2.07 lakh crore, up 15% year-on-year, with a market share of 12.3%.
The company had 1.85 crore unique customers as of September 30, up 10% year-on-year. The number of live folios rose 12% to 2.3 crore.
Assets under management across alternative investments, including alternative investment funds (AIFs), portfolio management services (PMS), advisory and offshore funds, stood at ₹13.3 lakh crore. AIF QAAUM rose 27% year-on-year to about ₹7,437 crore.
H1 FY27 performance
For the first half of FY27, operating revenue rose 12% year-on-year to ₹2,336 crore, while operating profit increased 11% to ₹1,797 crore. Profit after tax stood at ₹1,566 crore.
SBI Funds Management shares fell 1.84% to ₹463 on October 23, ahead of the earnings announcement.
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