HDFC AMC Q1 profit after tax jumps 52% to ₹477 cr

HDFC Asset Management Company (AMC) on Monday reported a 52% jump in profit after tax (PAT) at ₹477.5 crore for three months ended June 2023. In comparison, the asset management firm posted a PAT of ₹314.2 crore in the year-ago period, HDFC AMC said in a regulatory filing.

Revenue from operations rose 10% to ₹574.5 crore in the quarter under review, from ₹521.6 crore in the April-June quarter of the preceding fiscal.

With a market share of 11.3 %, HDFC AMC's average assets under management (AAUM) grew to ₹ 4.86 lakh crore in the first quarter ended June 30, 2023 from ₹ 4.15 lakh crore in the year-ago period.

The company serves a mutual fund customer base of 71 lakh individuals, with a total of 122 lakh live accounts.

Shares of HDFC AMC settled marginally lower at ₹ 2,498.15 apiece on the BSE.