Still could not raise a large sum. The amount that went to `0 ‘in 2008 has not risen much since then. In 2014 alone, it reached Rs 1,670 crore. At that time it had a very small profit (Rs 1.58 crore). We asked Swarup what was the reason for this.
“We ran the company frugally. We reached break even when dealing with Rs 660 crore. No company can achieve break even with such a small amount. Some companies made a profit of around Rs 5,000 crore. However, we made a profit of Rs 660 crore.
Still could not raise a large sum. The amount that went to `0 ‘in 2008 has not risen much since then. In 2014 alone, it reached Rs 1,670 crore. At that time it had a very small profit (Rs 1.58 crore). We asked Swarup what was the reason for this.
“We ran the company frugally. We reached break even when dealing with Rs 660 crore. No company can achieve break even with such a small amount. Some companies made a profit of around Rs 5,000 crore. However, we made a profit of Rs 660 crore.
Our parent company is focused on the Indian process. Ready to continue investing for it. Investing for years without profit for it will create fatigue for everyone. So we made plans to return to the path of profit quickly. Break even is something no one can do when dealing with Rs 660 crore. Don’t think that our ‘expense ratio’ is too high for that, it is too low.
In 2014, Morning Star and Value Research began rating two of Mire Asset Mutual Fund’s funds. So new investors began to invest with confidence.
At this time there was also the idea of working in partnership with an Indian company. Negotiations for that also took place. However, due to the large size of our fund for organic at this time, we abandoned the project, ”said Schroop.