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Shares of HDFC Asset Management jumped on strong June-quarter results. The stock jumped as much as 3.5 per cent to Rs 1,825, its highest since August 7.
The company had on Tuesday reported a 25 per cent rise in net profit at Rs 205.2 crore for the three months to June, driven by a healthy 35 basis points rise in operating margin.
The company, which got listed with a stellar performance early this month with a closing premium of 65 per cent on debut, had reported Rs 164.6 crore net income during the same period last year. Its gross revenue rose 20 per cent to Rs 501.1 crore, of which operational income grew 21 per cent to Rs 471.2 crore.
Total AUM rose to Rs 3,01,100 crore, registering a growth of 22 percent over Rs 2,47,800 crore a year ago, helping it improve the market share to 13.1 per cent in total quarterly average AUM across mutual funds, and retain the tag of the second largest private sector AMC.
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