HDFC Asset Management Company reported a 9.29% increase in net profit to Rs 345.45 crore on 0.83% rise in revenue from operations to Rs 507.08 crore in Q1 FY22 over Q4 FY21.
The HDFC group company posted 14.25% increase in net profit while revenue from operations grew 23.2% in Q1 FY22 over Q1 FY21.Profit before tax for the quarter rose 23% to Rs 466.1 crore compared with Rs 380.4 crore in the same period last year.
The company's operating profit from core asset management business increased by 21% to Rs 365.20 crore during Q1 FY22 from Rs 300.60 crore in the same period last year.
The asset management company's quarterly average Assets Under Management (QAAUM) was Rs 4,16,900 crore as on 30 June 2021 as against Rs 3,56,200 crore as on 30 June 2020, registering a growth of 17%. The company had 12.6% market share in QAAUM of the mutual fund industry.
HDFC AMC is investment manager to HDFC Mutual Fund. The company has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.
Shares of HDFC AMC were up 1.2% at Rs 3124.20 on BSE.
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