16 Jul 2024

HDFC Asset Management Company Shares Rise on Strong Q1 Earnings

HDFC Asset Management Company is currently trading at Rs. 4213.65, up by 21.65 points or 0.52% from its previous closing of Rs. 4192.00 on the BSE.

The stock opened at Rs. 4230.00 and has reached a high of Rs. 4275.00 and a low of Rs. 4190.00. A total of 4106 shares have been traded so far.

The BSE group 'A' stock, with a face value of Rs. 5, has touched a 52-week high of Rs. 4295.20 on July 15, 2024, and a 52-week low of Rs. 2355.70 on July 17, 2023.

In the last week, the stock has seen a high of Rs. 4295.20 and a low of Rs. 4050.05. The company's current market cap stands at Rs. 89,532.19 crore.

Promoters hold 52.52% of the company's shares, while Institutions and Non-Institutions hold 38.28% and 9.20% respectively.

HDFC Asset Management Company has reported a 26.49% rise in net profit to Rs. 603.98 crore for the quarter ended June 30, 2024, compared to Rs. 477.51 crore for the same quarter the previous year. The company's total income increased by 29.45% to Rs. 948.34 crore for Q1FY25, up from Rs. 732.59 crore for the corresponding quarter last year.

On a consolidated basis, the company reported a 26.47% rise in net profit to Rs. 603.76 crore for Q1FY25, compared to Rs. 477.41 crore for the same quarter the previous year. The total income increased by 29.49% to Rs. 948.71 crore for Q1FY25, up from Rs. 732.64 crore for the corresponding quarter last year.