The HDFC Asset Management Company has reported its net profit in the June quarter was up 27 per cent at ₹477 crore against ₹376 crore logged in the same period last year, largely due to higher income.
Income increased 15 per cent to ₹733 crore (₹638 crore). Overall expenses were up at ₹161 crore (₹146 crore) as employee benefits jumped ₹84 crore (₹72 crore).
Quarterly average asset under management of the fund house was up 17 per cent at ₹4.86 lakh crore (₹4.15 lakh crore) with equity asset of ₹2.49 lakh crore (₹1.97 lakh crore), an increase of 26 per cent.
Debt market asset was up 2 per cent at ₹1.30 lakh crore (₹1.27 lakh crore) while liquid fund asset increased 12 per cent to ₹77,400 crore (₹69,100 crore).
Unique investors based on PAN card numbers registered with the HDFC AMC was up at 7.1 million from ₹6 million logged last year while that of the industry jumped to 38.3 million (35.3 million).
Systematic transactions increased to ₹18,900 crore (₹12,800 crore) in the June quarter. Fees and commission paid during the quarter was up at ₹99 lakh against ₹59 lakh in last year.
HDFC AMC has made additional investment of ₹25 crore in equity capital of its wholly-owned subsidiary HDFC AMC International (IFSC) to meet the prescribed net worth for Registered Fund Management Entity (Retail) under the International Financial Services Centres Authority and meet the operating expenses of the subsidiary, it said.