HDFC AMC's Q3 profit after taxes increased by 3% to Rs 369 billion

HDFC AMC's Q3 profit after taxes increased by 3% to Rs 369 billion

For the three months that ended in December 2022, HDFC Asset Management Company Ltd. (HDFC AMC) reported a 3% rise in profit after tax (PAT) to Rs. 369.5 crore.

In contrast, the business reported a PAT of Rs 359.7 crore in the same fiscal quarter, according to a regulatory filing by HDFC AMC.

The company's overall revenue increased by 4% to Rs 663 crore in the reviewed quarter from Rs 635.9 crore in the same quarter last year.

The asset management company's overall costs increased 8% to Rs 162.2 crore in the third quarter of 2022 that ended in December. This was mostly caused by an increase in other costs, namely because of an increase in general business-related costs, technology costs, and CSR costs.

As of December 2022, the company's average asset under management (AAUM) was $4.45 trillion, down from $4.47 trillion the previous month.

One of the biggest mutual funds in the nation, HDFC Mutual Fund, has HDFC AMC as its investment manager.