The net profit of HDFC AMC declined 3% to Rs. 360 crore in the December quarter (Q3) as against Rs. 369 crore profit in the same period last year.
The decline in profit is largely due to rise in expenses. Data released by the company shows that expenses were 35% higher in the last quarter compared to the corresponding period a year ago. Quarterly expenses in Q3 FY2022 came in at Rs.151 crore as against Rs. 112 crore in Q3 FY2021.
The revenues in Q3 were higher at Rs.636 crore as against Rs.594 crore in the same period a year ago.
When compared with the previous quarter (Q2) data, the net profit has gone up 5% to Rs.360 crore from Rs.344 crore in Q2.
In the previous quarter, the average AUM of the fund house stood at Rs.4.5 lakh crore. The AUM was 2% higher than the average assets of the fund house in Q2.
