HDFC AMC Q3 profit after tax up 3 pc at Rs 369 cr

New Delhi: HDFC Asset Management Company Ltd (HDFC AMC) reported a 3 per cent increase in profit after tax (PAT) to Rs 369.5 crore for the three months ended December 2022.

In comparison, the company had posted a PAT of Rs 359.7 crore in the same quarter of the preceding fiscal, HDFC AMC said in a regulatory filing.

The company's total income rose by 4 per cent to Rs 663 crore in the quarter under review from Rs 635.9 crore in the year-ago period.

The asset management company's total expenses grew 8 per cent to Rs 162.2 crore in the third quarter ended December 2022. This was mainly due to a rise in other expenses, mainly on account of an increase in general business-related expenses, technology and CSR expense.

The company's average asset under management (AAUM) stood at Rs 4.45 lakh crore as of December 2022 against Rs 4.47 lakh crore a year earlier.

HDFC AMC is an Investment Manager for HDFC Mutual Fund, one of the largest mutual funds in the country.