HDFC AMC net profit jumps 31% to Rs 722.6 crore in 2017-18

Leading mutual fund house HDFC Asset Management Company (AMC) reported a 31 per cent jump in net profit at Rs 722.61 crore in 2017-18 compared to Rs 550.24 crore in the previous financial year.

The company's total revenue surged 17.6 per cent year-on-year to Rs 1,867.24 crore in financial year 2017-18.

Currently, HDFC AMC manages assets base to the tune of over Rs 3 lakh crore. HDFC AMC is a joint venture between HDFC and Standard Life Investments.


Last month, HDFC AMC had filed draft papers with the markets regulator Securities and Exchange Board of India (Sebi) to float an initial public offering (IPO).

According to the draft papers, the fund house will offer up to 2.54 crore equity shares. Of this around 85.92 lakh shares will be offered through an offer for sale by Housing Development Finance Corp Ltd (HDFC) and up to 1.68 crore shares by Standard Life Investments Ltd.