HDFC Asset Management Company has reported that its net profit in the December quarter was up 20 per cent at ₹769 crore, against ₹641 crore logged in the same period last year on growth in assets under management.
Revenue increased 15 per cent to ₹1,075 crore (₹935 crore) while other income was up at ₹159 crore (93 crore). Expenses were up at ₹220 crore (₹188 crore). Tax outgo increased 23 per cent to ₹244 crore (₹198 crore).
The average AUM of the fund house increased 17 per cent to ₹9.25 lakh crore (7.88 lakh crore) even as the market share dropped marginally to 12.6 per cent (12.8 per cent).
Equity-oriented asset was up 18 per cent to ₹5.66 lakh crore (₹4.78 lakh crore) while that of debt increased 17 per cent to ₹1.86 lakh crore (₹1.58 lakh crore). Liquid assets were down 9 per cent at ₹77,100 crore (₹84,300 crore).
SIP inflows increased 24 per cent to ₹4,730 crore (₹3,820 crore) in the December quarter with SIP asset under management touching ₹2.21 lakh crore).
The fund house has a surplus of ₹8,727 crore invested across debt, equity and arbitrage mutual fund schemes.
Shares of the company were up 3 per cent at ₹2,555 crore on Wednesday.