HDFC AMC to report 33% rise in Q2 profit

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HDFC Asset Management Company is expected to post 33 per cent year-on-year rise in net profit at ₹579 crore against ₹436 crore logged in the same quarter last year, aided largely by strong rally in equity markets and launch of new fund offers.

The revenue of the asset management company will increase 34 per cent to ₹865 crore against ₹643 crore reported in the previous quarter of the last fiscal year.

EBITDA is also expected to rise 40 per cent to ₹672 crore against ₹481 crore in the same quarter last year.

Margin of the asset management company will expand to 77.6 per cent in the September quarter, registering a 2.80 per cent increase over the 74.8 per cent logged in the same quarter last year.