HDFC AMC has seen its net profit (PAT) rise by 21% to Rs 302 crore in the lockdown quarter of Apr-Jun, as against Rs 250 crore net profit in the preceding quarter i.e. Jan-Mar.
An analysis of earnings of the fund house shows that a sharp rise in other income that includes income from various investments has increased the company's profit. Other income of the fund house stood at nearly Rs 80 crore in the June quarter, as against a loss of Rs 26 crore in the March quarter.
Another factor that has helped the company improve its bottomline is the reduction in its expenses. The fund house’s total expenses declined by 7.5% to Rs 111 crore in Apr-Jun from Rs 120 crore in the March quarter.
Compared to the corresponding quarter of last year i.e Apr-Jun 2019, the fund house witnessed an increase in its profit as well. The fund house saw its net profit rise from Rs 291 crore in Apr-Jun 2019 to Rs 302 crore in Apr-Jun 2020, a rise of nearly 4%.
