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