New Delhi: HDFC Asset Management Company on Tuesday reported a nine percent 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 the fund house said in a regulatory filing.
The firm’s total income grew by 10 percent 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 Fired 30-Week Pregnant Employee; Check What Happened Next)
The company’s average assets 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 percent in the quarter. (Also Read: Cognizant CEO Brian Humphries Fired: Check List Of 10 CEOs Of IT Giants Who Were Laid Off)
For the full fiscal 2022-23, the fund house’s PAT grew by 2 percent to Rs 1,423.9 crore. Its total income also rose 2 percent 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 percent.
Shares of HDFC AMC settled 0.73 percent lower at Rs 1,765.9 on the BSE.