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HDFC AMC shares rally post Q1 results

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Shares of HDFC Asset Management Company rallied nearly 3 per cent after the country's second-largest mutual fund house, on Tuesday reported a 25 per cent rise in net profit at Rs 205.26 crore for the quarter ended June 2018. In comparison, the fund house had reported a net profit of Rs 164.57 crore in the April-June quarter of 2017-18. The company's total revenues rose to Rs 501.15 crore during the period under review from Rs 417 crore in the quarter ended June 30, 2017. Further, the firm's total expenses shot up by 12 per cent from the year-ago period to Rs 206.5 crore in the three months ended June 30, 2018. The fund house got listed on the stock exchanges earlier this month. The scrip was trading 2.77 per cent up at Rs 1,809.40 at around 11 am (IST), while the BSE Sensex was down 20 points, or 0.05 per cent, at 38,265 at around the same time.




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