New Delhi: HDFC Asset Management Company on Tuesday reported a nine per cent rise 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 in a regulatory filing.
The firm’s total income rose 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). ,Also read: Meta fires employee who is 30 weeks pregnant; check what happened next,
The company’s average assets under management (AAUM) stood at Rs 4.49 lakh crore as of March 2023, up from Rs 4.32 lakh crore a year ago, giving it a market share of 11.1 per cent in the quarter. ,ALSO READ: Cognizant CEO Brian Humphries sacked: Check out the list of 10 CEOs of IT giants,
For the full FY 2022-23, the fund house’s PAT grew by 2 per cent to Rs 1,423.9 crore. Its total income also grew by 2 per cent year-on-year to Rs 2,482.6 crore.
HDFC AMC is the investment manager for HDFC Mutual Fund, one of the leading mutual funds in the country.
The fund house had a total of 11.4 million accounts as of March, of which 6.6 million were specific customers, identified by PAN, as against 37.7 million for the industry. In this, the company has the highest market share of 18 percent.
Shares of HDFC AMC closed at Rs 1,765.9, down 0.73 per cent, on the BSE.