HDFC AMC profit up by 24% in Q1FY26; Tiwari appointed PGIM India AMC CEO

HDFC AMC profit up by 24% at ₹748 crore in Q1FY26

  HDFC Asset Management Company (HDFC AMC) on Thursday reported a net profit of ₹748 crore for Q1FY26. This marks a 24 per cent increase from ₹604 crore in the same quarter last year. Sequentially, net profit rose 17 per cent from ₹639 crore in the March quarter. Total revenue in Q1 rose 27 per cent year-on-year (Y-o-Y) to ₹1,201 crore. Sequentially, revenue was up 17 per cent.  The fund house's quarterly average assets under management market share stood at 11.5 per cent in the June quarter, the company said in a statement. It added that its mutual fund schemes processed over 12 million systematic transactions in June with a value of over ₹4,000 crore.The AMC’s share hit a new all-time-high of ₹5,548.5 on Thursday after gaining 3.5 per cent.

 

  Abhishek Tiwari appointed PGIM India AMC CEO 

  PGIM India Asset Management has appointed Abhishek Tiwari as its new chief executive officer (CEO). He succeeds Ajit Menon, who is moving to an advisory role in the firm after 7 years at the helm. Tiwari, who is the company’s chief business officer currently, will assume the new role in September. PGIM India Mutual Fund is a wholly owned business of PGIM, the global investment management business of the  US based Prudential Financial. The fund house currently manages assets of around ₹25,000 crore.