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HDFC AMC advances after strong Q4 result

Capital Market 

HDFC Asset Management Company rose 4.96% to Rs 1,690.75 at 14:14 IST on BSE after net profit surged 60.7% to Rs 276.17 crore on 9.51% rise in total income to Rs 547.45 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours on Friday, 26 April 2019. Domestic stock markets were closed on Monday, 29 April 2019, on account of General Elections (Lok Sabha).

Meanwhile, the S&P BSE Sensex was down 176.10 points, or 0.45% to 38,891.23

On the BSE, 79,000 shares were traded in the counter so far, compared with average daily volumes of 19,000 shares in the past two weeks. The stock had hit a high of Rs 1,735 and a low of Rs 1,630 so far during the day.

HDFC Asset Management Company's operating profit rose 44% to Rs 353.60 crore in Q4 March 2019 over Q4 March 2018. Total AUM was Rs 3439 billion as of 31 March 2019 compared to Rs 2920 billion as on 31 March 2018, a growth of 18%.

HDFC Asset Management Company (HDFC AMC) is investment manager to HDFC Mutual Fund, the largest mutual fund in the country. HDFC AMC has a diversified asset class mix across equity and fixed income/ others.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 30 2019. 14:30 IST