HDFC AMC on October 19 reported a 6 percent rise in post-tax profit of Rs 364 crore for the quarter ended September 2022 as against Rs 344.4 crore a year back.
Sequentially, the profit rose 16 percent as against Rs 314 crore recorded in June quarter this year.
Revenue from operations came in marginally higher at Rs 544.7 crore for the quarter, an increase of 0.4 percent over Rs 542.3 crore same time last year. Sequentially, the revenue advanced 4.4 percent from Rs 521 crore.
In an exchange filing, the company said its Quarterly Average Assets Under Management (QAAUM) stood at Rs 4.29 lakh crore as compared to Rs 4.38 lakh crore in the year ago period. This indicates 11 percent market share in QAAUM of India's mutual fund industry.
As many as 39.1 lakh systematic transactions with a value of Rs 1,430 crore were processed during the month of September 2022, the company said. Operating profit for the quarter came in marginally lower at Rs 389 crore compared to Rs 395 crore YoY.
On July 22, the company had confirmed the news that its Chief Investment Officer (CIO) Prashant Jain has tendered his resignation after Moneycontrol first broke the story. Its board approved the appointment of Chirag Setalvad as head-equities, and Shobhit Mehrotra as head-fixed income.
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