The HDFC AMC (Housing Development Finance Corporation Asset Management Company) declared its Q1 results today. With its total revenue at Rs 491.3 Cr as compared to 449.6 last quarter, it has witnessed a total revenue growth at 9.27% QoQ, this is a considerable growth keeping the COVID situation in mind.
The company declared a net profit of Rs.302.4 Cr. as compared to Rs. 249 Cr with Net Profit Qtr Growth at staggering 21.3% QoQ and 3.62% YoY . Since PBT(Profit Before Taxes) saw a dip at 12%. The tax expenses too reduced this Quarter(YoY) by 44% this can be attributed to the moratoriums announced by the Finance Ministry as a relief for corporates.
The market opened at 2,510.00 followed by frequent spikes in the price and closed at 2,495.00.
Current Asset Under Management(AUM) USD 46 Billion with 39% equity oriented and 61% Non-Equity Oriented.
“Since the revenue of the company is ultimately dependent on the value of the assets under management (AUM) it manages, changes in market conditions and the trend of flows into mutual funds may have an impact on its operations. Since the situation is still evolving and it seems likely that there will be a material impact on the economy, the effect on the operations of the company may be different from that estimated as at the date of approval of these financial results,” HDFC AMC said in a release
You can read the detailed quarterly result by clicking here