Net profit of HDFC AMC declined 9% in one year to Rs. 314 crore in the first quarter of FY 2023. In April-June 2021, HDFC AMC’s profit stood at Rs. 345 crore, the company said in a press release.
Revenue from operations jumped 3% to Rs. 522 crore from Rs. 507 crore in the same period of FY 2022. However, income from other sources declined to Rs. 11 crore from Rs. 101 crore a year ago, leading to a slump in profit.
The company said that the AMC has a 11% share in the mutual fund market with an average Q1 AUM of Rs. 4.15 lakh crore.
"In June 2022, 37 lakh SIP transactions valuing Rs. 1,280 crore were executed in HDFC MF schemes. Total live accounts stood at 1 crore with the number of unique investors being 60 lakh," the fund house said in the release.
