HDFC AMC Q4 Profit Rises 18% to Rs 638 Cr - Business News

New Delhi, Apr 17 (PTI) HDFC Asset Management Company (AMC) on Thursday reported an 18 per cent increase in profit after tax (PAT) to Rs 638.5 crore in the March quarter.

In comparison, the company posted a PAT of Rs 541 crore in the year-ago period, the fund house said in a regulatory filing to the stock exchanges.

The firm's total income rose 20.5 per cent year-on-year (YoY) to Rs 1,025.5 crore in the quarter under review from Rs 851.22 crore in the January-March quarter of 2023-24 (FY24).

The asset management firm has recommended a final dividend of Rs 90 per equity share for the financial year ended March 31, 2025, subject to approval of the shareholders at the ensuing Annual General Meeting (AGM).

The final dividend, if approved by the shareholders, will be dispatched or remitted within the applicable regulatory timelines after the annual general meeting.

For the full financial year 2023-24 (FY24), the fund house's PAT grew 26.64 per cent year-on-year to Rs 2,460 crore and the total income surged 28 per cent to Rs 4,060 crore.

HDFC AMC is an investment manager for HDFC Mutual Fund, one of the leading mutual funds in the country.