HDFC AMC's Q4 net rises 8.7% to Rs 344 cr; income up 6.5% to Rs 581 cr

HDFC Asset Management Company (AMC) on Wednesday reported an 8.7 per cent growth in profit after tax (PAT) to Rs 343.55 crore in the quarter that ended in March 2022.

In comparison, the company had posted a PAT of Rs 316.08 crore in the same quarter of the preceding fiscal, the asset management firm said in a regulatory filing to the stock exchanges.

The company's total income rose to Rs 580.93 crore in the period under review from Rs 545.57 crore in the fourth quarter ended on March 31, 2021.

For the entire financial year 2021-22, HDFC AMC clocked a PAT of Rs 1,393.13 crore as against Rs 1,325.76 crore in the preceding fiscal and total income grew to Rs 2,433.20 crore in FY22 from Rs 2,201.74 crore in the past fiscal.

Further, the board of directors has recommended a dividend of Rs 42 per equity share of Rs 5 each of the company, for the financial year ended March 31, 2022, subject to approval of shareholders at the ensuing Annual General Meeting.

The scrip of HDFC AMC settled at Rs 2,072.15, down 0.68 per cent from the previous close.