HDFC AMC Net Profit Rises 18%, Board Recommends ₹90 Final Dividend

HDFC Asset Management Co reported an 18% rise in net profit for the March quarter, with consolidated profit after tax coming in at ₹6.38 billion, up from ₹5.41 billion a year ago.

Revenue for the quarter rose 20.5% year-on-year to ₹10.25 billion, compared to ₹8.51 billion in the same period last year, the company said in an exchange filing on Thursday.

The board has recommended a final dividend of ₹90 per equity share of face value ₹5 for the financial year ended March, subject to shareholder approval at the upcoming annual general meeting.

Total expenses for the quarter stood at ₹1.90 billion, compared with ₹1.72 billion in the year-ago period.

HDFC AMC's financial assets rose to ₹84.7 billion at the end of the March quarter, up from ₹73.24 billion a year earlier.