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Business News/ Companies / Company Results/  HDFC AMC Q3 profit jumps 45% to 353 crore
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HDFC AMC Q3 profit jumps 45% to ₹353 crore

Total income rose by 11% to ₹592 crore in October-December quarter of the ongoing fiscal from ₹532.7 crore in the same period last fiscal
  • The fund house' total expenses plunged by 23% to ₹126 crore in the quarter under review.
  • Total Expenses fell 23.39% to ₹125.96 crore for the quarter ended 30 December against ₹164.42 crore for the same quarter last yearPremium
    Total Expenses fell 23.39% to 125.96 crore for the quarter ended 30 December against 164.42 crore for the same quarter last year

    MUMBAI : HDFC Asset Management Company (AMC)on Tuesday reported a 44.93% jump in profit after tax at 352.55 crore in the three months ended December 30, 2019 buoyed by higher total income and lower total expenses.

    In comparison, the fund house had posted a profit after tax (PAT) of 243.26 crore in the year-ago period, HDFC AMC said in a statement. Profit was higher than 296 crore estimated by a Bloomberg poll of 6 analysts.

    Total income rose by 11% to 592 crore in October-December quarter of the ongoing fiscal from 532.7 crore in the same period last fiscal.

    The fund house' total expenses plunged by 23% to 126 crore in the quarter under review.

    Total Expenses fell 23.39% to 125.96 crore for the quarter ended 30 December against 164.42 crore for the same quarter last year.

    The total asset managed by the fund house rose 14% to 3.83 trillion at the end of December this year from 3.35 trillion in the same period last year.

    Actively managed equity AUM (assets under management) stood at 1.67 trillion in the quarter under review with a market share of nearly 15.8%, making the company largest equity mutual fund manager.

    At close, HDFC AMC counter closed at 3178.90, down 2.01% on the BSE.

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    Published: 21 Jan 2020, 09:05 PM IST
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