Signals, Powered By EquityPandit
HDFC Asset Management Company which enter the market during the second quarter of the current fiscal reported a 15 per cent jump in net profit at Rs 205.9 crores for the July-September quarter of the current fiscal year.
The company said in a statement that the total revenue rose 13 per cent to Rs 515 crores. As per the statement, the revenue from operations jumped by 12 per cent to Rs 480 crores. The company also reported that it closed the quarter with a market share of 13.3 per cent making it the second-largest mutual fund house.
As per the company’s statement, the total assets under management stood at Rs 2.93 trillion, a growth of 9 per cent from Rs 2.68 trillion in the corresponding period last year.
The company also became the largest equity mutual fund manager after its Actively managed equity AUM rose to Rs 1.47 trillion from Rs 1.23 trillion a year ago, posting a growth of over 20 per cent and a market share of 16 per cent.
HDFC AMC, which is the fourth firm from the HDFC group to go public after the parent, the bank and the life insurance arm, went public with Rs 2,800-crore IPO which was oversubscribed 83.06 times and it closed the trade with a massive 58 per cent gains over the listing price of Rs 1,100 on the market debut on August 5.
The company also announced that it has recently won an equity mandate of $450 million from a reputed foreign portfolio investor, of which around one-third has got funded recently.
