HDFC AMC shares rise over 2 pc on strong Q3 results

Shares of HDFC Asset Management Company on Wednesday rose over 2 percent after the company posted a 45 percent jump in profit after tax for the December quarter. The stock gained 2.59 percent to trade at Rs 3,261.30 on the BSE.

On the NSE, the scrip traded higher by similar margins at Rs 3,262. HDFC Asset Management Company on Tuesday reported a 45 percent jump in profit after tax (PAT) to Rs 352.5 crore for the three months ended December 31, 2019.

In comparison, the company had posted a PAT of Rs 243.3 crore in the year-ago period, HDFC AMC said in a regulatory filing. The company's total income rose 11 percent to Rs 592 crore in the October-December quarter of the current fiscal from Rs 532.7 crore in the same period last financial year.