HDFC Asset Management Company reported a consolidated net profit of Rs 540.84 crore for the quarter ended on March 2024. Net profit rose 43.77 percent year-on-year from Rs 376.17 crore in the same quarter last fiscal.
The AMC’s consolidated revenue increased by 28.55 percent to Rs 695.43 crore against Rs 540.95 crore in the previous year, the company announced in the results announced after market hours.
“The Board of Directors in the said meeting has recommended a dividend of Rs. 70/- per equity share of Rs. 5/- each of the Company, for the financial year ended March 31, 2024, subject to approval of shareholders at the ensuing Annual General Meeting. The dividend if approved by the shareholders, will be dispatched / remitted commencing from the day after the ensuing Annual General Meeting.”, the company said in the press release.
The AMC closed at Quarterly Average Assets Under Management (QAAUM) of Rs 6.12 lakh crore and a market share of 11.3 percent in the quarter.
Company’s QAAUM in actively managed equity oriented fund reached Rs 3.65 lakh crore with a market share of 12.8 percent.
The company’s operating profit rose 32.62 percent to Rs 523.6 crore.
HDFC AMC’s shares closed 1.71 percent down to Rs 3,708 ahead of the results announcement.
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