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Home >Companies >Company Results >HDFC AMC Q4 net profit up 26% to Rs316 crore

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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