HDFC AMC October-December quarter profit surges 32% to Rs 488 crore

HDFC Asset Management Company Ltd (HDFC AMC) on Thursday reported a 32 per cent year-on-year jump in profit after tax (PAT) at Rs 488 crore for the three months ended December 2023.

In comparison, the company had posted a PAT of Rs 369.16 crore in the year-ago period, HDFC AMC said in a regulatory filing.

The company's total income surged 23 per cent year-on-year to Rs 814.17 crore in the October-December quarter of the current fiscal (FY24), from Rs 663 crore in the year-ago period.

During the period ended December 31, 2023, the asset management firm paid a final dividend of Rs 48 per equity share (face value of Rs 5 each) for the year ended March 31, 2023.

For the nine months ended December 31, 2023, the company clocked a PAT of Rs 1,402 crore and total income of Rs 2,312.14 crore. HDFC AMC is an investment manager for HDFC Mutual Fund, one of the largest mutual funds in the country. Shares of HDFC AMC were trading 2.30 per cent higher at Rs 3,496.25 on the BSE.

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