HDFC AMC Q1 PAT rises 4% to Rs 302 cr
Jul 23, 2020 02:02 PM | Source: bjlbjtgl.com
HDFC Asset Management Company reported 3.6% rise in net profit to Rs 302.36 crore in Q1 June 2020 from Rs 291.79 crore in the same period last year.
Revenue from operations stood at Rs 411.49 crore in Q1 June 2020, falling 18.4% from Rs 504.39 crore in Q1 June 2019. Profit before tax fell 11.5% to Rs 380.37 crore in Q1 June 2020 over Q1 June 2019. Total tax expense for quarter ending 30 June 2020 stood at Rs 78.01 crore, falling 44% from the corresponding period last year. The result was announced during market hours today, 23 July 2020.
The operating profit for the quarter was Rs 300.60 crore as against Rs 381.50 crore in the corresponding quarter of the previous year, a decrease of 21% YoY.
The quarterly average assets under management (QAAUM) stood at Rs 356,200 crore as of 30 June 2020 compared to Rs 362,400 crore as on 30 June 2019, registering a fall of 2%. It has 14.5% market share in QAAUM of the mutual fund industry.
QAAUM in actively managed equity oriented funds i.e. equity oriented QAAUM excluding index funds stood at Rs 129,300 crore as on 30 June 2020 with a market share of 14.5%. The AMC is the largest actively managed equity-oriented mutual fund manager in the country. The ratio of equity oriented AUM and non-equity oriented AUM is 39:61 compared to the industry ratio of 38:62.
As of 30 June 2020, 51.7% of the company's total monthly average AUM is contributed by individual investors compared to 50.5% for the industry.
Shares of HDFC AMC were up 0.11% at Rs 2507.50.
HDFC Asset Management Company (AMC) is investment manager to HDFC Mutual Fund. 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.