HDFC AMC Q4 net rises 9% to Rs 376 cr
Total income grew by 10% to Rs 637.8 cr during the period against Rs 580.9 cr a year ago
HDFC Bank’s spl recruitment program for new recruits
New Delhi: HDFC Asset Management Company on Tuesday reported a nine per cent growth in profit after tax (PAT) to Rs 376.1 crore for the three months ended March 2023.
In comparison, the company posted a PAT of Rs 343.5 crore in the year-ago period, the fund house said. The firm's total income grew by 10 per cent to Rs 637.8 crore in the quarter under review from Rs 580.9 crore in the January-March quarter of 2021-22 (FY22).
The company's average asset under management (AAUM) stood at Rs 4.49 lakh crore as of March 2023 against Rs 4.32 lakh crore a year earlier, giving it a market share of 11.1 per cent in the quarter. For the full fiscal 2022-23, the fund house's PAT grew by 2 per cent to Rs 1,423.9 crore. Its total income also rose 2 per cent year-on-year to Rs 2,482.6 crore. HDFC AMC is an investment manager for HDFC Mutual Fund, one of the leading mutual funds in the country. The fund house had total live accounts of 11.4 million as of March, of which 6.6 million were unique customers as identified by PAN, compared to 37.7 million for the industry. This has the company having the highest market share at 18 per cent. Shares of HDFC AMC settled 0.73 per cent lower at Rs 1,765.9 on the BSE.
