HDFC Mutual Funds net profit increased by 25 percent year-on-year to 2 billion Rupees in the June quarter, the fund house announced the news on August 21, 2018.
The total AUM (Assets Under Management) increased by 22 percent to 3 trillion Rupees as of June 30, 2018. The fund house continuous to be the second largest AMC in terms of overall Assets Under Management, the first being ICICI Prudential Mutual Fund. It has about 13.1 percent market share in total quarterly average AUM of the Indian mutual fund industry.
While the net profit is 205.26 crore Rupees in June quarter of the current fiscal year, the HDFC Mutual Funds net profit in the April-June quarter of the fiscal year 2017-2018 was 164.57 crore Rupees as revealed by the fund house in a regulatory filing to the stock exchanges.
The operating revenues of the AMC increased by 20 percent, and the fund house’s total revenues increased to 501.15 crore Rupees during the April-June quarter of this year, whereas the total revenue was 417 crore Rupees during the quarter ended June 30, 2017.
The company’s total expenses increased by 12 percent to 206.5 crore Rupees under the period under review when compared to the fund house’s total expenses during the same period last year, reported The Times of India.
The HDFC Mutual Fund was listed on the stock exchanges during the beginning of August 2018.
On August 06, 2018, the fund house recorded 65 percent profit from its issue price to close at 1,815.5 Rupees on the BSE (Bombay Stock Exchange). The company’s share reached as high as 1,842.95 Rupees in intra-day trades on the day. The share registered a surge 68 percent from its issue price before stabilizing at 1,815.5 Rupees at the end of BSE trades on the day, reported IIFL.
The recent announcement of the HDFC Mutual Funds net profit is the first quarterly results reported by the AMC after getting listed on the stock exchanges, according to Business Standard.
The post HDFC Mutual Funds Net Profit Rises 25 Percent in June Quarter appeared first on OWLT Market.
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