HDFC Asset Management Company sees 12% dip in PBT in June quarter

In the June quarter, the PBT stood at Rs 380.4 crore. Post-taxes, the profit was up 4 per cent year-on-year basis, at Rs 302 crore

HDFC Asset Management Company (AMC) on Thursday reported a 12 per cent dip in profit before tax (PBT) in the June quarter (Q1) of 2020-2021 (FY21), compared to the corresponding quarter last financial year.

The company’s PBT for Q1FY21 stood at Rs 380.4 crore. After taxes, the profit was up 4 per cent year-on-year basis at Rs 302 crore.

The fund house had quarterly average assets under management (QAAUM) of Rs 3.56 trillion for Q1FY21.

The second largest fund house in the country held market share of 14.5 per cent as of June 30. This was on the basis of QAAUM of the