Last updated: 29 Apr, 2021 | 10:20 am
Profit rises: HDFC Asset Management Company (AMC) has reported a 26.5% growth in profit after tax (PAT). The PAT reported for the January to March period was at Rs 316.08 crore. Last year in the same period, the company reported a PAT of Rs 249.83 crore. The total income rose by 21.3% to Rs 545.57 crore from Rs 449.62 crore in the same quarter of the preceding fiscal.
Rise of AUM (Assets Under Management) numbers: HDFC AMC's total AUM rose 12 percent to Rs 4,15,600 crore as of end-March, compared to Rs 3,69,800 crore in March 2020. Equity AUM increased 38 percent to Rs 1.65 lakh crore while market share fell to 12.9 percent to 14.7 percent. Debt AUM was up 46 percent to Rs 1.52 lakh crore, while liquid assets were down 26 percent to Rs 63,800 crore.
Decline in Market share: Even though the company remains the industry leader, it witnessed a decline in market share. HDFC AMC's market share stood at 12.9% as on 31 March 2021 as against 13.1% as on 31 December 2020 and 13.7% as on 31 March 2020.
Operating Profit: Operating profit of the company for the quarter ended March 31, 2021, was Rs 380.2 crore, 7% higher than the operating profit of ₹356.2 crore for the quarter ended March 31, 2020.
The company has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors, and national distributors.
After the muted Q2 and Q3 numbers, the company has bounced back with positive numbers in the January to March period. The AMC has reserves of ₹4,753 crore with 88 percent invested in mutual funds. The Board of Directors has proposed a final dividend of Rs 34 per equity share for the year ended March 31, 2021.