HDFC AMC in an exchange filing on Tuesday announced that Piyush Surana, chief financial officer (CFO) and key managerial personnel (KMP) of the company has tendered his resignation. He will be relieved from the duties with effect from 31 January 2022, the asset management company added.The company said it is in the process of appointing a new CFO and the same will be communicated to the stock exchanges in due course.
Shares of HDFC AMC have declined 10.6% in last one month underperforming the benchmark Nifty 50 index which gained 5.8% in the same period.
HDFC AMC is investment manager to HDFC Mutual Fund. The company has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.
The Asset Management Company posted 14.25% increase in net profit while revenue from operations grew 23.2% in Q1 FY22 over Q1 FY21.
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