HDFC Asset Management Company has reported that its net profit jumped 32 per cent in the September quarter to ₹577 crore against ₹437 crore logged in the same period on the back of rise in asset under management.
Income increased 38 per cent to ₹1,058 crore (₹765 crore) in the quarter under review. Other expenses were up at ₹87 crore (₹67 crore) due to new fund offers, KYC expenses related to MF investors, CSR expenses and technology spend, it said.
The AUM of the fund house was up 47 per cent at ₹7.69 lakh crore (₹5.23 lakh crore) on the back of sharp rally in the market and increased inflows through new fund offer.
Actively managed equity AUM zoomed 62 per cent at ₹4.87 lakh crore (₹3 lakh crore), while debt market asset rose 15 per cent to ₹1.53 lakh crore (₹1.34 lakh crore). Liquid AUM moved up 18 per cent to ₹65,900 crore (₹55,700 crore).
Inflows through systematic investment plan increased 64 per cent in the September quarter to ₹3,680 crore against ₹2,240 crore. SIP AUM of the fund house was up at ₹1.79 lakh crore.
Of the surplus of ₹6,943 crore, the fund house invested 93 per cent in MF.
Over 90,000 empaneled distribution partners across MFDs, National Distributors and Banks, serviced through a total of 255 branches of which 175 are in B-30 locations. The contribution of B-30 locations to total monthly average AUM in September was 19.5 per cent, it said.
Shares of the company were up at one per cent at ₹4,549 on Tuesday.