HDFC AMC Q1 profit up 2% at Rs 344.5 cr; Birla AMC rises 38% to Rs 173 cr

HDFC Asset Management Company (AMC) has reported net profit of Rs 344.5 crore for the quarter ended September 2021, up 2 per cent over the same period of last year. Meanwhile, newly-listed Aditya Birla Sun Life (ABSL) AMC posted net profit of Rs 173 crore, up 38 per cent year-on-year for the period under consideration.

HDFC AMC’s operating profit stood at Rs 395.4 crore as compared to Rs 349.1 crore in the quarter ended September 2020. It’s quarterly average assets under management (QAAUM) rose to Rs 4.38 trillion from Rs 3.7 crore in September 30.

Aditya Birla Sun Life AMC, operating profit grew 49 per cent year-on-year to Rs 190 crore. While QAAUM witnessed growth of 26 per cent to Rs 3 trillion.