MUMBAI: The third-largest fund house, HDFC AMC, registered a 26 percent on-year growth in net income in the June quarter at Rs 604 crore over the Rs 477.5 crore in the year-ago period.
Revenue from operations clipped higher by 35 percent to Rs 775 crore from Rs 575 crore in the same quarter last fiscal. Total income grew 29 percent to Rs 948 crore from Rs 732 crore a year ago, the fund house said in a statement Monday.
The fund house manages assets worth Rs 7.06 trillion and has a market share of 11.4 per cent as of the reporting period; within the equity funds, it has a market share of 12.9 per cent; while among retial investors, its market share is 13.3 per cent. In the year-ago period, its AUM stood at Rs 4.86 trillion, and a market share of 11.4 per cent.
The ratio of equity and non-equity oriented funds is 64:36, compared to the industry ratio of 56:44 for the reporting quarter.
As much as 71 per cent of its monthly average AUM is contributed by individual investors, compared to 61 per cent for the industry, and June alone saw it add 8.76 million systematic transactions worth Rs 3210 crore.
Its live accounts stood at 18.6 million as of the end of June, and the number of unique customers stands at 10.7 million as identified by the PAN, compared to 46.9 million for the industry, a penetration of 23 per cent, and the total live accounts of 18.6 million.
Incorporated in 1999, HDFC Asset Management Company is the investment manager for HDFC Mutual Fund.
The HDFC AMC counter gained 0.66 per cent to close at Rs 4,567.89 on the BSE after the result announcement, while the benchmark gained 0.2 per cent.