HDFC AMC Q1 results: Net profit up 51.98%, revenue from ops rises 10.15%

HDFC Asset Management Company's Q1 revenue grew 10.15% YoY Rs 574.54 crore

HDFC Asset Management Company (AMC) on Monday reported over 51.98 per cent year-on-year (YoY) growth in its profit after tax (PAT) at Rs 477.51 crore for the first quarter of the current financial year (Q1FY24).

Its revenue from operations during the same period rose 10.15 per cent to Rs 574.54 crore from Rs 521.58 crore last year.

The company's asset under management at the end of the previous quarter (June 30, 2023) stood at Rs 4.99 trillion.

HDFC AMC, investment manager to HDFC Mutual Fund, has a diversified asset class mix across equity and fixed income/others.

It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.