HDFC AMC Q2 PAT jumps 79% to Rs 368 cr

HDFC Asset Management Company reported 79% surge in profit after tax to to Rs 368.24 crore in Q2 September 2019 over Q2 September 2018.

Total income rose 6.6% on year-on-year (yoy) basis to Rs 549.07 crore. The announcement was made after market hours yesterday, 25 October 2019.

Profit before tax (PBT) for the quarter ended 30 September 2019 was also up by 44% to Rs 427.50 crore compared with Rs 297.20 crore for the quarter ended 30 September 2018.

The operating profit of the company in Q2 September 2019 was Rs 376.50 crore as against Rs 262.30 crore in Q2 September 2018, registering an increase of 44%.

The company took a provision of close to Rs 24.97 crore on its exposure to certain non convertible debentures (NCDs) that are secured by a pledge of listed equity shares.

HDFC Asset Management Company (HDFC AMC) said its total asset under management (AUM) grew 25% to Rs 3.66 lakh crore as of 30 September 2019 compared with Rs 2.92 lakh crore as on 30 September 2018. This works out to 14.9% market share in total AUM of the mutual fund industry.

The ratio of equity oriented assets and non-equity oriented assets is 45:55 compared to the industry ratio of 43:57.

The company reported an increase of 9% in individual customer accounts and an increase of 9% in unique customer accounts year on year as on September 2019. It sourced 12.7% of its assets from beyond the top-30 cities, also known as B30.

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