HDFC AMC reports 45% rise in net on lower cost

Our Bureau Mumbai | Updated on January 21, 2020

AUM jumps by 12% to ₹3.69-lakh crore

HDFC Asset Management Company has reported 45 per cent increase in December quarter net profit at ₹352 crore against ₹243 crore logged in the same period last year.

Income from operations

Total income from operations was up 11 per cent at ₹592 crore (₹533 crore).

Thanks to SEBI’s new norms of shifting the commission paid to distributors to individual schemes, the fees and commission expenses of the fund house were down 87 per cent to ₹7 crore (₹53 crore) during the quarter under review.

The overall expenses fell 23 per cent to ₹126 crore (₹164 crore) even as the fund house has more than doubled its depreciation and amortisation expenses to ₹13 crore (₹4 crore).

The assets under management of HDFC AMC was up 12 per cent to ₹3.69-lakh crore (₹3.29-lakh crore), with a market share of 16 per cent (15.6 per cent).

Equity assets down

Equity assets of the fund house slipped marginally at 46.4 per cent (46.9 per cent) and that of liquid funds to 21.5 per cent (22.7 per cent).

Inflows through systematic investment plans climbed 3 per cent at ₹12,200 crore (₹11,700 crore).

However, on sequential basis it was down 5 per cent compared with ₹12,800 crore logged in the September quarter.

Published on January 21, 2020

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