HDFC AMC surges 8 per cent post Q1FY19 results
Country’s second largest AMC reported strong performance in its quarterly performance for the quarter ended June 2018. The bottom-line grew substantially to Rs. 204 crore.
The revenue for the one of the largest AMC in the country rose by 20 per cent yoy to Rs. 471 crore in Q1FY19 vs Rs. 390 crore in Q1FY19. This was largely on the back of strong AUM growth 21 per cent yoy to Rs. 22.9 trillion vs Rs.19 trillion.
The total AUM grew to Rs. 3,01,100 crore in Q1FY19 compared to Rs. 2,47,800 crore in the corresponding quarter the previous year. The net profit for the quarter also grew strongly to Rs. 204 crore compared to Rs. 164 crore.
The stock listed on the exchanges earlier this month and saw significant gains for the investors with 65 per cent premium on listing. Also post result, the stock surged 8 per cent to touch an all-time high of Rs. 1,919 per share. The stock closed the trading day with 3.24 per cent gains at Rs. 1,890 mark on Friday.