HDFC AMC’s Net Profit in Q1FY19 rises by 25% to touch Rs.205 crore


HDFC Asset Management Company, which was recently listed on the bourses, announced that its net profit for the first quarter of the current financial year rose by 25% to touch Rs.205 crore, against a net profit of Rs.165 crore during the corresponding period in the previous financial year. The firm also announced that its total revenue for the period under revenue increased by 20% to Rs.501 crore, from Rs.417 crore in the year-ago period.

HDFC AMC announces a 25% increase in net profit to Rs.205 crore.

The growth in the company’s revenues and profit after tax was attributed to a 22% rise in the assets under management (AUM) of the firm, within which the total number of individual investors increased by 29% to about 84 lakh.

HDFC MF, which was formed in partnership between HDFC and Standard Life Investments, is the second-biggest asset management company in the country. The firm has announced that its assets under management at the end of the April-June quarter of the current financial year was over Rs.3 lakh crore. The firm has a market share of around 13% in a sector that has 40 fund houses/asset management companies in total.

HDFC AMC, which saw a high subscription rate during its IPO, was listed on 6 August 2018 at Rs.1,739, against an issue price of Rs.1,100. The company, thus, listed at a 58% premium over the issue price.

Sources: The Times of India


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