HDFC AMC Q2 profit jumps 79% to Rs 368 crore

New Delhi: HDFC Asset Management Company (AMC)on Friday reported a 79 per cent jump in profit after tax at Rs 368.3 crore in the three months ended September 30, 2019.

In comparison, the fund house had posted a profit after tax (PAT) of Rs 205.9 crore in the year-ago period, HDFC AMC said in a statement.

Total income rose by 7 per cent to Rs 549 crore in July-September quarter of the ongoing fiscal from Rs 515.3 crore in the same period last fiscal.

The fund house’ total expenses plunged by 44 per cent to Rs 121.5 crore in the quarter under review.

The total asset managed by the fund house rose 25 per cent to Rs 3,66,200 crore at the end of September this year from Rs 2,92,600 crore in the same period last year.

Actively managed equity AUM (assets under management) stood at Rs 1.64 lakh crore in the quarter under review with a market share of nearly 16 percent, making the company largest equity mutual fund manager.

The HDFC AMC counter closed at Rs 2,900.55, down 3.34 per cent on the BSE.


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