HDFC AMC posts 25% increase in Q3 profit

By: |
Published: January 22, 2019 12:20:34 AM

Total assets under management (AUM) as on December 31, 2018 stood at Rs 3.29 lakh crore compared to Rs 2.93 lakh crore as on December 31, 2017, a growth of 12% with a 14.4% market share of total AUMs across mutual funds.

HDFC AMC posts 25% increase in Q3 profit

HDFC Asset Management Company (AMC), the country’s largest mutual fund house, posted a 24.7% increase in its net profit to Rs 243.26 crore for the quarter ended December 2018 on the back of reining in costs and increase in assets under management (AUM).

Total assets under management (AUM) as on December 31, 2018 stood at Rs 3.29 lakh crore compared to Rs 2.93 lakh crore as on December 31, 2017, a growth of 12% with a 14.4% market share of total AUMs across mutual funds.

READ ALSO | Govt clarifies on Mumbai tax notices: Outcry ‘misleading’, show cause issued only in these cases

During the third quarter, other expenses of HDFC AMC dropped nearly 30% to `110.42 crore against `157.36 crore in the corresponding quarter a year ago, thereby boosting its bottom line.

AUM in actively managed equity-oriented funds i.e. equity-oriented total AUM excluding arbitrage funds and index funds grew to `1.53 lakh crore as on December 31, 2018 with a market share of 16%.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.