HDFC AMC net profit rises 25% to Rs 205.26 cr in June qtr
HDFC Asset Management Company, the country's second-largest mutual fund house, today reported a 25 per cent surge in net profit at Rs 205.26 crore for three months ended June 30 this year.
In comparison, the fund house had a net profit of Rs 164.57 crore in the April-June quarter of 2017-18, HDFC AMC said in a regulatory filing to the stock exchanges.
The company's total revenues rose to Rs 501.15 crore during the period under review from Rs 417 crore in the quarter ended June 30, 2017.
Further, the firm's total expenses shot up by 12 per cent from the year-ago period to Rs 206.5 crore in the three months ended June 30, 2018.
The fund house got listed on the stock exchanges earlier this month.
HDFC AMC is the second-largest fund house in the country in terms of total assets under management after ICICI Prudential Mutual Fund.
The fund house's assets under management increased by 22 per cent to Rs 3.01 lakh crore at the end of June 30, 2018 from Rs 2.47 lakh crore in the year-ago period.
HDFC AMC operates as a joint venture between Housing Development Finance Corporation and Standard Life Investments.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.