open demat account

HDFC Asset Management Company Ltd (HDFC AMC) on Tuesday reported a 3 per cent increase in profit after tax (PAT) to Rs 369.5 crore for the three months ended December 2022.

In comparison, the company had posted a PAT of Rs 359.7 crore in the same quarter of the preceding fiscal, HDFC AMC said in a regulatory filing.

The company’s total income rose by 4 per cent to Rs 663 crore in the quarter under review from Rs 635.9 crore in the year-ago period.

The asset management company’s total expenses grew 8 per cent to Rs 162.2 crore in the third quarter ended December 2022. This was mainly due to a rise in other expenses, mainly on account of an increase in general business-related expenses, technology and CSR expense.

The company’s average asset under management (AAUM) stood at Rs 4.45 lakh crore as of December 2022 against Rs 4.47 lakh crore a year earlier.

HDFC AMC is an Investment Manager for HDFC Mutual Fund, one of the largest mutual funds in the country. PTI SP SP BAL BAL

To stay updated with the Latest Stock Market news, download our app here!

For editorial purposes, contact news@tradebrains.in

Start Your Financial Learning Journey

Want to learn Stock Market and other Financial Products? Make sure to check out, FinGrad, the learning initiative by Trade Brains. Click here to start your financial learning journey with us. And do not miss out on the Introductory Offer!!