New Delhi, July 23 -- Asset management companies recorded a double-digit jump in the June quarter, driven by core asset growth and an income boost from their own treasury investments.

Profit after tax rose 12-27% year-on-year in Q1FY27, aided by buoyant equity markets that lifted assets under management (AUMs) through mark-to-market gains.

The Nifty 50 gained 6.9% during the quarter, while the Nifty Midcap 150 and the Nifty Smallcap 250 surged 17% and 24%, respectively, boosting the value of mutual fund portfolios.

"Since AMCs earn fees based on AUM, the appreciation in market value increased their earnings. So, even if there were no fresh inflows, a rise in the value of assets would have increased AUM and, consequently, fee income," S...