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HDFC AMC Q3 profit surges 45% to Rs 352 crore

New Delhi: HDFC Asset Management Company on Tuesday reported a 45 per cent jump in profit after tax (PAT) at Rs 352.5 crore for the three months ended December 31, 2019.

In comparison, the company, had a posted a PAT of Rs 243.3 crore in the year-ago period, HDFC AMC said in a regulatory filing to the stock exchanges.

The company’s total income rose 11 per cent to Rs 592 crore in the October-December quarter of the current fiscal from Rs 532.7 crore in the same period last financial year.

The total asset managed by the fund house increased by 14 per cent to Rs 3,82,500 crore at the end of December, 2019 from Rs 3,35,000 crore in the end of December, 2018.

The average assets under management of actively managed equity funds stood at Rs 1.66 lakh crore as on December 2019 with a market share of 15.8 per cent. This excluded arbitrage and index funds.

HDFC AMC is investment manager to HDFC Mutual Fund, which has a diversified asset class mix across equity and fixed income.

Source: Economic Times