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HDFC Asset Management Company has reported that its net profit in the December quarter was down three per cent to ₹360 crore, as against ₹369 crore logged in the same period last year, largely due to higher operational cost and fall in other income.
Revenue from operation was up 14 per cent at ₹550 crore (₹482 crore). Overall operational cost increased 35 per cent to ₹151 crore (₹112 crore). Other income was down 24 per cent to ₹86 crore (₹113 crore).
Asset under management increased 7 per cent at ₹4.37 lakh crore against ₹4.07 lakh crore. Its market share was down at 11.6 per cent against 13 per cent in same period last year. The fund house processed 3.44 million systematic transactions worth ₹1,190 crore in December.
Equity asset under management increased 23 per cent to ₹1.96 lakh crore (₹1.60 lakh crore) even as its market share fell to 11.4 per cent (13.4 per cent) . Debt asset was down two per cent at ₹1.52 lakh crore (₹1.55 lakh crore) and liquid AUM dipped 15 per cent to ₹66,900 crore (₹78,800 crore). The fund house has reserves of ₹5,196 crore as of December-end.
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