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HDFC AMC posts 61 pc rise in Q4 profit at Rs 276 cr

New Delhi, Apr 26 () HDFC Asset Management Company Friday posted a 61 per cent jump in profit after tax at Rs 276.17 crore for the three months ended March.

It had reported a profit after tax of Rs 171.85 crore in the same period a year ago.

In a regulatory filing, the company said its total income rose to Rs 547.45 crore in the latest March quarter from Rs 499.92 crore in the year-ago period.

The company’s board has recommended a final dividend of Rs 12 per share for the 2018-19 fiscal.

“The total dividend for the financial year ended March 31, 2019 (including the interim dividend of Rs 12 per equity share) is Rs 24 per equity share,” it said.

Shares of the company closed flat at Rs 1,610.80 on the BSE.

For the year ended March 2019, the company’s profit after tax climbed 31 per cent to Rs 930.60 crore.

In the year-ago period, the same stood at Rs 711.29 crore.

Total income increased to Rs 2,096.78 crore in the last financial year from Rs 1,869.77 crore earlier.

“Total AUM of Rs 3,439 billion (Rs 3.439 lakh crore) as of March 31, 2019 compared to Rs 2,920 billion (Rs 2.920 lakh crore) as on March 31, 2018, a growth of 18 per cent,” it said in a separate release.

The board approved appointment of Roshni Nadar Malhotra as an independent woman director for five years starting from April 27, 2019, while Hoshang Billimoria would re-appointed as an independent director for a second term up to November 29, 2019.

His current term is to end on July 20, 2019.

Both the decisions are subject to approval of shareholders. RAM ABM

News credit : Indiatimes