HDFC Asset Management Company has reported that its net profit increased 31 per cent in the December quarter at ₹641 crore against ₹488 crore logged in the same period last year, on back of sharp rise in asset under management and new fund offers.

Income was up 26 per cent at ₹1,028 crore (₹814 crore).

The AUM in the quarter under review jumped 35 per cent to ₹7.76 lakh crore (₹5.75 lakh crore). However, quarter-on-quarter it was up one per cent when compared to ₹7.69 lakh crore logged in June quarter.

Equity AUM increased 38 per cent year-on-year to ₹4.79 lakh crore (₹3.47 lakh crore) and was down two per cent quarter-on-quarter.

Debt asset jumped 17 per cent at ₹1.56 lakh crore against ₹1.34 lakh crore registered in the same period last year. Liquid fund asset was up 40 per cent at ₹76,700 crore (₹55,000 crore).

Inflows through systematic investment plan increased to ₹3,820 crore against ₹2,630 crore in same quarter last year.

The fund house has reserves of ₹7,617 crore.

Shares of the fund house were up one per cent at ₹3,864 on Tuesday.