SBI Funds Management Q2 FY27 Results: Consolidated Net Profit ₹701 Crore on Total Income of ₹1,237 Crore
Earnings
asset management
Blacklitt Research3 min read
SBI Funds Management (NSE: SBIFUNDS) reported consolidated total income of ₹1,237.38 crore and net profit of ₹701.24 crore for the quarter ended 30 Sep 2026, it said in a filing on 23 Oct 2026. Standalone total income was ₹1,230.06 crore and standalone net profit ₹693.54 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹1,237.38 crore, up 3.1% YoY and down 11.0% QoQ
Net profit and EPS: ₹701.24 crore, down 6.0% YoY; basic EPS ₹3.44 against ₹3.67
Other income: ₹44.71 crore, down 57.3% YoY from ₹104.59 crore
Finance costs: ₹5.73 crore, against ₹2.35 crore a year earlier
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,230.06 crore, up 2.9% YoY and down 11.2% QoQ
Net profit and EPS: ₹693.54 crore, down 6.4% YoY; basic EPS ₹3.40 against ₹3.64
Other income: ₹42.67 crore, down 59.2% YoY from ₹104.70 crore
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,237.38
1,199.68
+3.1%
1,389.89
-11.0%
Revenue from operations
1,192.67
1,095.10
+8.9%
1,152.73
+3.5%
Other income
44.71
104.59
-57.3%
237.16
-81.1%
701.24
745.93
-6.0%
880.25
-20.3%
Profit before tax
936.20
957.47
-2.2%
1,145.42
-18.3%
Finance costs
5.73
2.35
+143.8%
2.45
+134.1%
Depreciation
15.46
10.64
+45.4%
12.23
+26.4%
Tax expense
239.77
215.20
+11.4%
270.34
-11.3%
Net profit margin
56.67%
62.18%
-5.51 pp
63.33%
-6.66 pp
EPS, basic (₹)
3.44
3.67
-6.3%
4.32
-20.4%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit fell faster than income. Consolidated net profit was 6.0% lower than a year earlier while total income rose 3.1%, and profit before tax fell 2.2%. Other income moved the other way to revenue: it fell 57.3% to ₹44.71 crore, while revenue from operations rose 8.9% to ₹1,192.67 crore. Other income is 3.6% of total income this quarter, and tax expense rose 11.4% to ₹239.77 crore.
The year-earlier base is affected by a tax item. The filing says the company reassessed its income tax position in the half year ended 30 Sep 2025 and reversed ₹309.79 million (₹30.98 crore) of tax provision for earlier periods in that quarter and half year. Taking that reversal out of the year-earlier net profit of ₹745.93 crore gives about ₹714.95 crore, which would make the quarter's ₹701.24 crore about 1.9% lower rather than 6.0% lower.
Finance costs rose to ₹5.73 crore from ₹2.35 crore and depreciation to ₹15.46 crore from ₹10.64 crore, up 45.4%. Finance costs are 0.5% of total income. Consolidated net profit includes a ₹4.81 crore share of profit of the associate, SBI Pension Funds Private Limited, which the statement adds after profit before tax and tax.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,230.06
1,195.97
+2.9%
1,384.94
-11.2%
Revenue from operations
1,187.40
1,091.27
+8.8%
1,148.67
+3.4%
Other income
42.67
104.70
-59.2%
236.27
-81.9%
693.54
740.78
-6.4%
872.81
-20.5%
Profit before tax
932.93
956.77
-2.5%
1,143.08
-18.4%
Finance costs
5.72
2.34
+144.6%
2.44
+134.7%
Depreciation
15.42
10.60
+45.4%
12.18
+26.5%
Tax expense
239.39
215.99
+10.8%
270.27
-11.4%
Net profit margin
56.38%
61.94%
-5.56 pp
63.02%
-6.64 pp
EPS, basic (₹)
3.40
3.64
-6.6%
4.29
-20.7%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone results follow the same pattern. Net profit fell 6.4% YoY while total income rose 2.9%, and other income fell 59.2% to ₹42.67 crore from ₹104.70 crore. Standalone profit before tax fell 2.5%, and tax expense rose 10.8% to ₹239.39 crore.
Against the quarter ended 30 Jun 2026, standalone other income fell 81.9% from ₹236.27 crore, and total income fell 11.2%. Standalone net profit is ₹7.70 crore lower than consolidated net profit of ₹701.24 crore.
Standalone basic EPS is ₹3.40 against ₹3.64, and the year-earlier figure has been adjusted for the 3-for-1 bonus allotted on 19 Dec 2025. Standalone finance costs were ₹5.72 crore, also 0.5% of total income.
Inference
Per share, consolidated basic EPS of ₹3.44 is consistent with net profit of ₹701.24 crore spread over 203.68 crore shares of ₹1 face value. The company completed an initial public offering by way of offer for sale and its shares were listed on NSE and BSE on 21 Jul 2026.
On governance and ownership, the board approved a postal ballot notice seeking member approval to appoint Giridhar Sanjeevi as an Independent Director, with the cut-off date and e-voting period to be intimated later. The board also noted reclassification requests from State Bank of India, a promoter, for Indian Digital Payment Intelligence Corporation, and from Amundi Asset Management, for AIXIGO TR YAZILIM LIMITED SIRKETI after its voluntary winding up. Both entities hold no shares, so the board said shareholder approval is not required. The half-year cash flow shows ₹0.17 million paid as dividend.
Not stated: the reason for the fall in other income in the quarter ended 30 Sep 2026, whether any dividend has been declared for the quarter or half year, and the date and outcome of the postal ballot.
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SBIFUNDSSBI Funds Management Ltd.
