Business

HDFC AMC Q1 FY20 net profit up 42 pc at Rs 291.7 crore

ANI | July 16, 2019 04:16 PM
The company has 14.7 pc market share in the mutual fund industry

Mumbai (Maharashtra) [India], July 16 (ANI): HDFC Asset Management Company Ltd (HDFC AMC) said on Tuesday its net profit jumped 42 per cent to Rs 291.7 crore during April to June (Q1) of financial year 2019-20 on year-on-year basis.

The assets under management (AUMs) increased by 18 per cent to Rs 356,700 crore. On June 30, 2018 the AUMs totalled Rs 301,100 crore.

HDFC AUM has 14.7 per cent market share in the mutual fund industry. Its ratio of equity oriented assets and non-equity oriented assets is 48:52 compared to the industry ratio of 43:57. During June, the company processed 34.3 lakh systematic transactions with a value of Rs 1,270 crore.

Its operating profit from core asset management business for the quarter ended June 30 was Rs 381.5 crore as compared to Rs 264.7 crore for the same quarter in previous fiscal, marking an increase of 44 per cent.

Profit before tax was Rs 429.9 crore, up 46 per cent from Rs 294.6 crore in Q1 of FY19. Profit after tax was up by 42 per cent to Rs 291.7 crore as compared to Rs 205.2 crore for the quarter ended June 30, 2018. (ANI)

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