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HDFC AMC Shares Surge 2% On Reporting 45% Jump In Q3 Profit

By Staff

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.

HDFC AMC Shares Surge 2% On Reporting 45% Jump In Q3 Profit

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.

Read more about: hdfc amc
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