HDFC Asset Management Company has reported that its net profit rose 31 per cent to ₹641 crore in the December quarter, compared to ₹488 crore in the same period last year, on the back of a sharp increase in assets under management and new fund offerings.
Income rose 26 per cent to ₹1,028 crore (₹814 crore).
Assets under management in the quarter under review rose 35 per cent to ₹7.76 lakh crore (₹5.75 lakh crore). However, quarter-on-quarter, it was higher by one per cent, compared to ₹7.69 lakh crore in the June quarter.
Equity investment capital rose 38 percent year-on-year to ₹4.79 lakh crore (₹3.47 lakh crore) and declined two percent quarter-on-quarter.
Debt rose 17 per cent to ₹1.56 lakh crore from ₹1.34 lakh crore in the same period last year. Liquid fund assets rose 40 per cent to ₹76,700 crore (₹55,000 crore).
Inflows through systematic investment plan rose to ₹3,820 crore from ₹2,630 crore in the same quarter last year.
The fund house has reserves of ₹7,617 crore.
Shares of the fund house rose one per cent to ₹3,864 on Tuesday.
