HDFC AMC Q3 results: PAT rises 5% to Rs 369 cr

HDFC AMC Q3 results: PAT rises 5% to Rs 369 cr

NEW DELHI: HDFC Asset Management Company (AMC) on Wednesday reported a 5 per cent increase in profit after tax at Rs 369.26 crore for three months ended December 31.

In comparison, it had posted a profit after tax (PAT) of Rs 352.55 crore in the year-ago period, HDFC AMC said in a regulatory filing to stock exchanges.

Total income grew to Rs 594.91 crore in the quarter under review from Rs 591.99 crore in the three months ended December 31, 2019.

The company’s average asset under management (AAUM) surged 10 per cent to Rs 4.06 lakh crore as of December 31, 2020 from Rs 3.69 lakh crore as on December 31, 2019.

It, further, said 55 per cent of the company’s total monthly average AUM is contributed by individual investors compared to 52 per cent for the industry.

“Our financial performance in the initial period of this financial year had suffered due to the effects of the COVID-19 pandemic on the markets. While there continues to be some uncertainty regarding how the COVID-19 pandemic will ultimately pan out, markets have been upbeat and our financial performance this quarter has improved further,” HDFC AMC said.

HDFC AMC is investment manager to HDFC Mutual Fund, one of the leading mutual fund in the country.

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