HDFC AMC’s Q1 net profit jumps 26% to Rs 604 crore, stock up 1.5%

The shares of the company rose almost 2 percent following the announcement of earnings, before paring some gains. The stock was trading at Rs 4,230.45, higher by 1.48 percent.

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HDFC Asset Management Company Limited on July 15 reported a 26.4 percent jump in net profit at Rs 603.76 crore against Rs 477.41 crore in the same period of last year, the company said in an exchange filing.

In the quarter ended March 31, HDFC AMC had reported a net profit of Rs 540.84 crore, according to the filing.

The firm’s revenue from operations came in at Rs 775.24 crore, posting a 34.9 percent growth over Rs 574.54 crore reported in the year-ago period. In the last quarter of the previous financial year, the revenue stood at Rs 695.43 crore, the exchange filing said.

The shares of the company rose almost two percent following the announcement of earnings, before paring some gains. The stock was trading at Rs 4,230.45 on the NSE, higher by 1.48 percent.