HDFC Asset Management Company has announced a 32 per cent rise in its net profit for the December quarter, reaching ₹488 crore, compared to ₹369 crore recorded in the corresponding period of the previous year, primarily driven by improved margins.
Income was up 23 per cent at ₹814 crore (from ₹663 crore) on back of 20 per cent rise in revenue from operation at ₹671 crore (from ₹560 crore) and 22 per cent jump in other income at ₹143 crore (from ₹103 crore).
Overall expenses were up 9 per cent at ₹177 crore (from ₹162 crore).
Asset under management of the fund house was up 28 per cent to ₹5.75 lakh crore (from ₹4.48 lakh crore) with 50 per cent rise in equity asset of ₹3.47 lakh crore (from ₹2.31 lakh crore).
Debt AUM was up 15 per cent at ₹15 per cent at ₹1.34 lakh crore (from ₹1.17 lakh crore). However, its liquid asset was down 26 per cent to ₹55,000 crore (from ₹74,700 crore). The fund house serviced 87 lakh unique investors identified by their PAN number.
SIP inflows was up 68 per cent in December quarter to ₹2630 crore (from ₹1,570 crore) with SIP asset of ₹1.29 lakh crore.
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Interestingly, 91 per cent of the overall transaction of the fund house was through the electronic mode against 81 per cent last fiscal.
The fund house has investments of ₹6,469 crore and of this 90 per cent are invested in Mutual Funds (MFs). Of the overall MF investment only 7.7 per cent are in equity, and 90 per cent are invested in debt and liquid funds.