HDFC AMC Q4 net profit up 26% to Rs316 crore1 min read . Updated: 27 Apr 2021, 08:40 PM IST
- Total income grew 21.34% to Rs545.57 crore in the quarter under review from Rs449.62 crore in the three months ended March 31, 2020
HDFC Asset Management Company (AMC) on Tuesday reported a 26.52% increase in net profit at ₹316.08 crore for three months ended March 31. In comparison, it had posted a profit after tax (PAT) of ₹249.83 crore in the year-ago period, HDFC AMC said in a regulatory filing to stock exchanges.
Total income grew 21.34% to ₹545.57 crore in the quarter under review from ₹449.62 crore in the three months ended March 31, 2020.
Profit before tax (PBT) gained 28.35% to ₹423.01 crore in Q4 March 2021 as against ₹329.57 crore in Q3 December 2019. Total tax expense for the quarter advanced 34.10% to ₹106.93 crore as against ₹79.74crore in Q4 March 2020. The Q4 result was declared after-market hours on Tuesday.
Total expense during the quarter increased marginally 2.09% year-on-year (Y-o-Y) to ₹122.56 crore. The company's average asset under management (AAUM) surged 12% to ₹4.16 trillion as of March 31, 2021 from ₹3.70 trillion as on March 31, 2020, 12.9% market share in QAAUM of the mutual fund industry. It, further, said 57.6% of the company's total monthly average AUM is contributed by individual investors compared to 53.7% for the industry.
HDFC AMC's market share stood at 12.9% as on 31 March 2021 as against 13.1% as on 31 December 2020 and 13.7% as on 31 March 2020. Operating Profit of the company for the quarter ended March 31, 2021 was ₹3,80.2 crore,7% higher than the operating profit of ₹3,56.2 crore for the quarter ended March 31, 2020.
HDFC AMC is the investment manager to HDFC Mutual Fund, one of the leading mutual funds in the country. The company has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.
Shares of HDFC Asset Management Company (AMC) gained 1.22% to close at ₹2,865.45 on Tuesday on the BSE, while the benchmark index, Sensex gained 1.15% to close at 48994.14 points.
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