Latest News
-
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids -
Wipro Reports 7.8% Decline in Q4 Net Profit; CEO Highlights Economic Challenges -
IREDA Hits Record Annual PAT of Rs 1,252 Cr in FY24; Q4 Profits Up by 33% -
Massive Employee Exodus Hits India's Top IT Companies in FY23-24 -
Air India Enhances Operational Efficiency with New Crew Management System -
BlackRock Acquires Shares in Electrosteel Castings and PTC India for Rs 207 Crore -
IndiGo Enhances Domestic Routes with Direct Chennai-Durgapur Flights -
Tesla to Recall Nearly 4,000 Cybertrucks Over Accelerator Pedal Fault -
Reliance, ONGC, Tata, Adanis: Energy Stocks Didn't Get The Memo Of Bears, Up 12% In 30-Days; 10 Stocks To BUY -
Sebi to Enhance Price Discovery for Firms Trading Below Book Value
HDFC AMC Shares Surge 2% On Reporting 45% Jump In Q3 Profit
Shares of HDFC Asset Management Company rose by 2 percent to Rs 3,262 on Wednesday on reporting a 44.9 percent increase in profit after tax (PAT) at Rs 352.5 crore for the December-ended quarter. In the same period of the previous year, the company posted PAT at Rs 243.3 crore.
According to its stock exchange filing on Tuesday, HDFC AMC's total income was up by 11 percent to Rs 592 crore in the third quarter of 2019-20 from Rs 532.7 crore in December 2018.
The fund house's total asset under management (AUM) increased by 14 percent to Rs 3,82,500 crore as of 31 December 2019 from Rs 3,35,000 crore on 31 December 2018.
The average AUM of actively managed equity funds stood at Rs 1.66 lakh crore in December 2019 with a market share of 15.8 percent. This excluded arbitrage and index funds.
HDFC AMC is the investment manager to HDFC Mutual Fund, which has a diversified asset class mix across equity and fixed income.
