HDFC AMC Achieves Staggering Profit Growth

HDFC Asset Management Company reported a significant 32% growth in profit after tax for the quarter ending September 2024, achieving Rs 576.61 crore. The company also saw a 38% increase in total income compared to the same quarter last year, with shares up 1.11% on the BSE.

HDFC Asset Management Company (AMC) announced robust financial results for the quarter ending September 2024, reporting a substantial 32% year-on-year growth in profit after tax (PAT) to Rs 576.61 crore. This marks a notable increase from the Rs 436.52 crore recorded in the same period last year.

The company's total income surged by 38% to Rs 1,058.19 crore during the July-September quarter, up from Rs 765.35 crore in the previous year, according to a filing with the stock exchange.

For the half-year ending September 2024, HDFC AMC posted a PAT of Rs 1,180.37 crore and total income amounting to Rs 2,007 crore. As of 3 pm, shares of HDFC AMC were up 1.11% at Rs 4,533 on the BSE.

(With inputs from agencies.)