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HDFC Asset Management Company has reported nine per cent fall in March quarter net profit at ₹250 crore against ₹276 crore in the same period last year.
Revenue from operations during the quarter was down at ₹476 crore (₹486 crore). The company has declared a dividend of ₹28 per equity share.
The company had incurred a negative other income of ₹27 crore due to fall in value of învestment in non-convertible debenture.
The company holds certain Non-Convertible Debentures that are secured by a pledge of listed equity shares.
These NCDs are classified as financial assets at fair value through profit and loss. Hence, any changes in their fair value on the reporting date is reflected as a part of other income, it said.
Quarterly Average AUM was up 8 per cent at ₹3.69 lakh crore as of March quarter end against ₹3.42 crore logged in the same period last year.
Equity-oriented QAAUM excluding index funds increased 15 per cent at ₹1.57 lakh crore. The ratio of equity oriented AUM and non-equity oriented AUM was at 38:62.
The fund house has systematic transactions of 329 lakh worth ₹1,130 crore in March.
Total live accounts of the fund house was at 9.4 million as on March 31, 2020 with unique customers identified by PAN stood at 5.6 million as of March-end.
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