HDFC AMC Q1 PAT rises 52% to Rs 477 crore

New Delhi: HDFC Asset Management Company (AMC) on Monday reported a 52 per cent jump in profit after tax (PAT) at Rs 477.5 crore for three months ended June 2023.

In comparison, the asset management firm posted a PAT of Rs 314.2 crore in the year-ago period, HDFC AMC said in a regulatory filing.

Revenue from operations rose 10 per cent to Rs 574.5 crore in the quarter under review, from Rs 521.6 crore in the April-June quarter of the preceding fiscal.

With a market share of 11.3 per cent, HDFC AMC's average assets under management (AAUM) grew to Rs 4.86 lakh crore in the first quarter ended June 30, 2023 from Rs 4.15 lakh crore in the year-ago period.

The company serves a mutual fund customer base of 71 lakh individuals, with a total of 122 lakh live accounts.

Shares of HDFC AMC settled marginally lower at Rs 2,498.15 apiece on the BSE.