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HDFC AMC Q1 Net Profit Jumps 42%

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On Tuesday, HDFC AMC (Asset Management Company) reported a 42 percent jump in its net profit on an increase in AUM. The company's net profit for the June-ended quarter was at Rs 291.79 crore, when compared to Rs 205.26 in the same period, last year.

HDFC AMC Q1 Net Profit Jumps 42%
 

Its total income rose to Rs 552.75 crore in the April-June period as against Rs 501.19 crore a year ago. HDFC AMC is the largest actively managed equity-oriented mutual fund manager in India.

Its AUM (assets under management) grew by 18 percent to Rs 3,56,700 crore in the first quarter (Q1) of the fiscal year on a year-on-year basis. In the actively managed equity oriented funds section of the AUM, that is the total equity oriented AUM excluding arbitrage funds and index funds, rose by 16.2 percent to Rs 1,68,900 crore in the quarter under review, from the previous year.

The AMC's revenue from operations were 7.03 percent in the first quarter at Rs 504.39 crore, when compared to Rs 471.23 crore in April-June 2018. Its total expenses declined to Rs 122.86 crore during the quarter as against Rs 206.55 crore a year ago.

Shares of HDFC AMC closed 4.03 percent higher at Rs 2,012.70 on NSE on Tuesday.

Read more about: hdfc amc q1
Story first published: Tuesday, July 16, 2019, 17:17 [IST]
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