HDFC Asset Management Company (HDFC AMC) reported 26% jump in net profit to Rs 315.9 crore on 6% rise in revenue from operations to Rs 502.9 crore in Q4 FY21 over Q4 FY20.
Profit before tax in Q4 March 2021 stood at Rs 422.8 crore, up 28% from Rs 329.70 crore in Q4 March 2020.
The company's operating profit from core asset management business increased 6% to Rs 380.20 crore during the quarter from Rs 359.60 crore recorded in the same period last year.
The company's quarterly average Assets Under Management (QAAUM) was Rs 4,15,600 crore as on 31 March 2021 as against Rs 3,69,800 crore as on 31 March 2020 and Rs 3,89,500 crore as on 31 December 2020.
The fund house's market share on QAAUM basis was 12.9% as on 31 March 2021 as against 13.7% as on 31 March 2020 and 13.1% as on 31 December 2020.
The company's net profit rose 5% to Rs 1325.60 crore on 8% decline in revenue from operation to Rs 1852.50 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
HDFC AMC is investment manager to HDFC Mutual Fund. The company has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.
The scrip rose 1.14% to end at Rs 2863.15 on the BSE on Tuesday.
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