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HDFC AMC share price falls 4% on weak Q4 earnings

HDFC AMC share price lost up to 3.81% to Rs 3,522  compared to the previous close of Rs 2622.35 on BSE

twitter-logoBusinessToday.In | May 11, 2020 | Updated 20:11 IST
HDFC AMC share price falls 4% on weak Q4 earnings
The stock price of HDFC AMC opened with a loss of 3.33% at Rs 2535.

HDFC Asset Management Company (AMC) share price closed lower in trade today after the firm reported a 9 per cent drop in profit-after-tax for quarter ended March 2020. HDFC AMC share price lost up to 3.81% to Rs 3,522  compared to the previous close of Rs 2622.35 on BSE. It closed 3.09% or Rs 80.95 lower at Rs 2,541 on BSE.

The stock price of HDFC AMC opened with a loss of 3.33% at Rs 2535. Total 0.26 lakh shares traded on BSE amounting to turnover of Rs 6.60 crore. HDFC AMC stands lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has gained 55.09% during last one year but lost 20.49% since the beginning of this year. Market cap of the firm fell to Rs 54,081 crore.

The firm reported a fall in profit-after-tax at Rs 250 crore for Q4 compared to profit-after-tax of Rs 276.17 crore in the year-ago period. Total income declined to Rs 449.62 crore in the fourth quarter from Rs 547.67 crore in the same period a year ago.

Average assets under management of the fund house increased to Rs 3.7 lakh crore as of March 31, 2020 compared to Rs 3.42 lakh crore as on March 31, 2019.

For the entire fiscal 2019-20, the fund house profit-after-tax surged 36 per cent to Rs 1,262.41 crore from Rs 930.6 crore in the preceding fiscal. Its total income rose to Rs 2,143.43 crore for 2019-20 from Rs 2,096.78 crore in the preceding fiscal.

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