HDFC AMC posts 42% jump in profit after tax to Rs 292 cr in June quarter

HDFC Asset Management Company on Tuesday posted a 42 per cent rise in profit after tax (PAT) to Rs 291.7 crore for the quarter ended June 30.

The fund house had earned a profit of Rs 205.26 crore in the June quarter of last year.

"Profit after tax for the quarter ended June 30, 2019, was up by 42 per cent to Rs 2,917 million (Rs 291.7 crore) as compared to Rs 2,052 million (Rs 205.2 crore) for the quarter ended June 30, 2018," the company said in a statement.

The total income also rose to Rs 552.75 crore in the April-June 2019 quarter, compared with Rs 501.19 crore in the corresponding quarter a year ago.

The assets under management (AUM) rose to Rs 3,56,700 crore, a year-on-year increase of 18 per cent, the fund house said.

As of June 30, 59.2 per cent of the company's total monthly average AUM is contributed by individual investors compared to 54.3 per cent for the industry, the company said.

Shares of HDFC AMC Tuesday ended at Rs 1,994.30, with a gain of 3.08 per cent on the BSE.