Latest News | HDFC AMC Net Rises 4 Pc to Rs 302 Cr
Get latest articles and stories on Latest News at LatestLY. HDFC Asset Management Company on Thursday reported a muted 4 per cent increase in net profit to Rs 302.4 crore for the June quarter, as its funds under management declined by 2 per cent.
Mumbai, Jul 23 (PTI) HDFC Asset Management Company on Thursday reported a muted 4 per cent increase in net profit to Rs 302.4 crore for the June quarter, as its funds under management declined by 2 per cent.
The largest mutual fund manager's AUM declined 2 per cent to Rs 3,56,200 crore, compared to Rs 3,62,400 crore in June 2019. It has a market share of 14.5 per cent.
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The net income growth was muted at 4 per cent as the fund house saw its operating profit plunge 21 per cent to Rs 300.6 crore from Rs 381.5 crore in June 2019.
It also declared a dividend of Rs 28 a share, as against Rs 24 per share in the same period last year.
The company's equity-oriented AUM, excluding index funds, stood at Rs 1,29,300 crore with a market share of 14.5 per cent, cementing its top market position as the largest actively managed equity-oriented mutual fund manager in the country.
The ratio of equity oriented AUM and non-equity oriented fund is 39:61 compared to the industry ratio of 38:62.
The fund house witnessed 3.11 million systematic transactions with a value of Rs 960 crore processed in June, taking the contribution of B-30 cities to its total monthly average assets under management of 12.6 per cent.
As of June, 51.7 per cent of its total monthly average AUM is contributed by individual investors compared to 50.5 per cent for the industry, the company said, adding its live accounts stood at 9.4 million.
The shares of the fund house closed flat with a negative bias of 0.12 per cent at Rs 2501.80 on the BSE, against the benchmark Sensex gaining more than three-fourths of percentage.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)