HDFC Asset Management Company sees flat profit growth in march quarter

Fund house held sizeable market share in individual investors' segment

HDFC Asset Management Company (AMC) — the country’s second-largest asset manager — reported profit before tax (PBT) of Rs 425 crore in the March quarter, a marginal year-on-year improvement of 0.13 per cent.
 

After adjusting for non-recurring items — which entails investments on the company’s books — PBT was down 20 per cent (on a YoY basis) at Rs 329 crore.
 

For the previous financial year, the fund house saw its PBT rise 25 per cent to Rs 1,773 crore. However, after adjusting for the impact of non-recurring items, PBT was 20 per cent higher at Rs 1,653 crore.
 

The