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HDFC AMC net profit jumps 31% to Rs 722.61-cr in FY18

Press Trust of India  |  New Delhi 

Leading mutual fund house (AMC) today reported a 31 per cent jump in net profit at Rs 722.61 crore in 2017-18 compared to Rs 550.24 crore in the previous financial year.

The company's total revenue surged 17.6 per cent year-on-yeart to Rs 1,867.24 crore in 2017-18 financial year.

Currently, HDFC AMC manages assets base to the tune of over Rs 3 lakh crore.

HDFC AMC is a joint venture between HDFC and Standard Life Investments.

Last month, HDFC AMC had filed draft papers with markets regulator Sebi to float an initial public offering (IPO).

Going by the draft papers, the fund house will offer up to 2.54 crore equity shares of through an offer for sale of 85.92 lakh shares by Housing Development Corp Ltd (HDFC) and up to 1.68 crore shares by Standard Life Investments Ltd.

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

First Published: Tue, April 17 2018. 18:45 IST