HDFC AMC has additionally purchased NCDs amounting to Rs 33.26 crore on July 1, 2019
HDFC Asset Management Company said its profit in the quarter ended June 2019 grew 42.2 percent to Rs 292 crore with asset under management growth of 18 percent YoY.
Its profit in the corresponding quarter of last fiscal stood at Rs 205.3 crore.
Revenue from operations increased 7 percent YoY to Rs 504.4 crore in June quarter.
Fees and commission expenses in Q1 were down 86 percent to Rs 11.4 crore YoY while other income grew 61.4 percent to Rs 48.36 crore YoY.
The investment manager of HDFC Mutual Fund said its assets under management at Rs 3.56 lakh crore increased 18 percent YoY with having a 14.7 percent market share in total AUM of the mutual fund industry.
The company further said, "We provided liquidity arrangement to certain fixed maturity plans of HDFC MF in Q1. Liquidity arrangement entailed the acquisition of such NCDs by the company from these FMPs. These NCDs are secured by a pledge of certain listed equity shares."
HDFC AMC has additionally purchased NCDs amounting to Rs 33.26 crore on July 1, 2019.The stock was quoting at Rs 1,973.00, up Rs 38.35, or 1.98 percent on the BSE at 1509 hours IST.The Great Diwali Discount!
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