HDFC Asset Management Company has reported a 27 per cent jump in June quarter net profit to ₹604 crore against ₹477 crore logged in the same period last year.
Income increased 29 per cent to ₹949 crore (₹733 crore) in the quarter under review. Overall expenses were up 22 per cent to ₹196 crore (₹161 crore).
The average asset under management was up 38 per cent to ₹6.72 lakh crore (₹4.86 lakh crore). Equity AUM increased 64 per cent to ₹4.07 lakh crore (₹2.49 lakh crore) while debt assets registered a growth of 10 per cent to ₹1.43 lakh crore (₹1.30 lakh crore). Liquid assets were down 8 per cent to ₹71,500 crore (₹77,400 crore).
Inflows through systematic investment plans was up 70 per cent at ₹3,210 crore (₹1,890 crore). The SIP asset was at ₹1.61 lakh crore. Direct investors in the fund were down at 22 per cent against 42 per cent in the last June quarter, while national and MF distributors increased to 24 per cent (20 per cent) and 39 per cent (28 per cent). HDFC Bank and other banks share was up at 8 per cent (6 per cent) and 13 per cent (10 per cent).
The fund house has invested ₹6,424 crore, largely in mutual funds. Of this liquid and debt funds accounted for 85 per cent and equity investment of 10 per cent was due to regulatory mandate.