HDFC Asset Management Company today reported a 25 percent rise in net profit at Rs 205.2 crore for the three months to June, driven by a healthy 35 basis points (bps) rise in operating margin.
The company, which got listed with a stellar performance early this month with a closing premium of 65 percent on debut, had reported Rs 164.6 crore net income during the same period last year.
Its gross revenue rose 20 percent to Rs 501.1 crore, of which operational income grew 21 percent to Rs 471.2 crore for the quarter.
It can be noted that HDFC AMC is the single largest player in the equity-oriented funds, with over half of its overall AUM being parked in equities.
Of the total AUM, 13 percent came in from the B-30 markets, the company said.
The ratio of equity-oriented assets and non-equity oriented assets is 50:50, compared with the industry ratio of 42:58.
The company saw its individual accounts increasing 29 percent to 8.36 million, from 6.48 million in June 2017, while its individual monthly average AUM grew 26 percent.
From the individual monthly average AUM perspective, HDFC AMC enjoys 15.4 percent market share, making the company the preferred choice of individual investors.
During the quarter, the company processed 3.36 million systematic transactions with a value of Rs 1,160 crore in the quarter.
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