Total income grew to ₹594.91 crore in the quarter under review from ₹591.99 crore in the three months ended December 31, 2019
NEW DELHI :
HDFC Asset Management Company (AMC) on Wednesday reported a 5% increase in profit after tax at ₹369.26 crore for three months ended December 31.
In comparison, it had posted a profit after tax (PAT) of ₹352.55 crore in the year-ago period, HDFC AMC said in a regulatory filing to stock exchanges.
Total income grew to ₹594.91 crore in the quarter under review from ₹591.99 crore in the three months ended December 31, 2019.
The company's average asset under management (AAUM) surged 10% to ₹4.06 lakh crore as of December 31, 2020 from ₹3.69 lakh crore as on December 31, 2019. It, further, said 55% of the company's total monthly average AUM is contributed by individual investors compared to 52% 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.