HDFC AMC Q3 results: PAT rises 5% to Rs 369 cr

NEW DELHI: HDFC Asset Management saw its profit after tax (PAT) rise 5% to Rs 369.4 crore in December quarter, as compared to Rs 352.5 crore in the same period a year ago. Revenue from operations at the country's second largest mutual fund fell 8% to Rs 481.9 crore in the third quarter from Rs 524.7 crore last year. Operating profit was down 7% to Rs 369.7 crore in this period.

HDFC AMC shares ended flat at Rs 3206 on Wednesday. In the past year, the stock has declined 1.15%. The fund house has been losing market share due to poor performance of equity mutual fund schemes, with its share in overall assets under management falling from 14.3% in December 2019 to 13.1% in December 2020. In the more profitable actively-managed equity schemes, its share has gone down from 15.8% to 13.6% in the same period. It however maintained its share in debt funds at 13.8% in the December quarter as against 13.2% last year.