HDFC Asset Management Co. reported a 26.6% increase in its net profit on a yearly basis, for the first quarter of fiscal 2025.
The asset management company reported a bottom line of Rs 604 crore in the April-June quarter, as compared with Rs 477 crore registered during the same period last year, according to its stock exchange notification issued on Monday. That compares with the Rs 573.48-crore analysts' estimate by Bloomberg.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Total income of HDFC AMC rose 29.5% year-on-year to Rs 949 crore in comparison to Rs 733 crore reported in the same period last year. The company's average asset under management rose 38% to Rs 6.71 lakh crore as of June 2024 as against Rs 4.86 lakh crore a year ago.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Shares of HDFC AMC rose on Monday and closed 0.67% higher at Rs 4,197 apiece, as compared with a 0.35% gain in the country's benchmark NSE Nifty 50. The stock had risen as much as 3.06% during the trading session to hit an all-time high of Rs 4,296.40. The scrip has risen 76.05% year-to-date.
Must read: Q1 Results Today: Bajaj Auto, Just Dial and L&T Finance
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
