New Delhi: HDFC Asset Management Company, the country’s second-largest mutual fund house, on Tuesday reported a 25% surge in net profit at₹205.26 crore for three months ended 30 June this year.

In comparison, the fund house had a net profit of 164.57 crore in the April-June quarter of 2017-18, HDFC AMC said in a regulatory filing to the stock exchanges.

The company’s total revenues rose to 501.15 crore during the period under review from 417 crore in the quarter ended 30 June 2017. Further, the firm’s total expenses shot up by 12% from the year-ago period to 206.5 crore in the three months ended 30 June 2018.

The fund house got listed on the stock exchanges earlier this month.

HDFC AMC is the second-largest fund house in the country in terms of total assets under management after ICICI Prudential Mutual Fund. The fund house’s assets under management increased by 22% to 3.01 lakh crore at the end of 30 June 2018 from 2.47 lakh crore in the year-ago period.

HDFC AMC operates as a joint venture between Housing Development Finance Corporation and Standard Life Investments.

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