Our Bureau
HDFC Asset Management Company has reported that its net profit in the June quarter was up 14 per cent at ₹345 crore against ₹302 crore logged in same period last year, largely due to higher income. Overall revenue increased 24 per cent at ₹608 crore (₹491 crore).
The quarterly average asset under management was up 17 per cent in June quarter at ₹4.17 lakh crore against ₹3.56 lakh crore logged in same period last year.
However, the market share of the fund house dropped to 12 per cent from 14 per cent. The average equity AUM in the quarter under review was up 33 per cent at ₹1.72 crore while that of debt fund increased to ₹1.57 lakh crore.
Liquid fund asset dipped 39 per cent to ₹72,600 crore (₹1.18 lakh crore) as the market share fell to 15 per cent (22 per cent).
Live individual account was down five per cent at 8.87 million (9.35 million).
Inflows through systematic investment was up two per cent at ₹980 crore (₹960 crore). However, it is lower when compared to ₹1,040 crore logged in March quarter.
The fund house has cash reserves of ₹5,128 crore as of June-end.