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HDFC AMC profit surges 61% in Q4

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HDFC AMC Q4 Result: HDFC AMC profit surges 61% in Q4 - The TheIndianSubcontinentNever miss a great news story!Get instant notifications from TheIndianSubcontinentAllowNot nowYou can switch off notifications anytime using browser settings.EarningsStock Analysis, IPO, Mutual Funds, Bonds MoreFor the full year ended March 31, HDFC MF's profit grew 31% to Rs 930.6 crore.Apr 26, 2019, 09.35 PM ISTGetty ImagesMumbai: HDFC Asset management, India’s largest asset manager, posted a 61% jump in net profit for the quarter ended March 31 2019 from the previous year on stronger inflows and rising margins.

The company's net profit for the fourth quarter was Rs 276.3 crore as against Rs 171.9 crore in the same period last year The asset manager's margins rose after the capital markets regulator mandated that all scheme related expenses, indluding distributor commission shall be paid by schemes of the mutual fund and not the asset manager.

In addition, the regulator in a circular dated October 22, 2018 prohibited payment of upfront commission mandated a full trail model for distributor commission. For the full year ended March 31, HDFC MF's profit grew 31% to Rs 930.6 crore as compared to Rs 711.4 crore in the previous year on the back of rising flows into mutual funds.

HDFC MF continued to gain market shares with total assets under management (AUM) rising to Rs 3.43 lakh crore, an increase of 18% as compared to industry’s rise of 11%.

The ratio of equity oriented assets and non-equity oriented assets is 48:52 compared to the industry ratio of 43:57.

HDFC AMC has a market share of 15.4% of the individual monthly average AUM in the industry.

The asset manager has declared a final dividend of Rs 12 per share in addition to an interim dividend of Rs 12 taking the total pay out to Rs 24 per share for the year.

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