HDFC Asset Management Company soars on reporting 52% rise in Q1 net profit

HDFC Asset Management Company is currently trading at Rs. 2523.80, up by 26.50 points or 1.06% from its previous closing of Rs. 2497.30 on the BSE.

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The scrip opened at Rs. 2501.95 and has touched a high and low of Rs. 2537.00 and Rs. 2464.85 respectively. So far 16881 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 2552.00 on 20-Jul-2023 and a 52 week low of Rs. 1595.25 on 20-Mar-2023.

Last one week high and low of the scrip stood at Rs. 2552.00 and Rs. 2361.55 respectively. The current market cap of the company is Rs. 52940.43 crore.

The promoters holding in the company stood at 52.55%, while Institutions and Non-Institutions held 35.30% and 12.15% respectively.

HDFC Asset Management Company has reported results for first quarter ended June 30, 2023 (Q1FY24).

HDFC Asset Management Company has reported 51.98% rise in its net profit at Rs 477.51 crore for the quarter under review as compared to Rs 314.19 crore for the same quarter in the previous year. Total income of the company increased by 37.47% at Rs 732.57 crore for Q1FY24 as compared Rs 532.90 crore for the corresponding quarter previous year.

HDFC Asset Management Company offers a large suite of savings and investment products across asset classes, which provide income and wealth creation opportunities to its customers.