HDFC AMC Q2 Results: Net profit rises 20% to ₹436.5 crore; revenue grows 18% YoY

HDFC Asset Management Company (HDFC AMC) on Thursday reported a net profit of ₹436.5 crore in the quarter ending September 2023, registering a growth of 20% year-on-year (YoY). The company has reported a net profit of ₹363.8 crore in the year-ago quarter.

HDFC AMC’s revenue in Q2FY24 grew 18.1% to ₹643.1 crore from ₹544.7 crore, YoY.

On a sequential basis, the company’s net profit declined 8.6%, while revenue rose 11.9% during the quarter under review.

Operating profit for the quarter was ₹467 crore as compared to ₹388.9 crore in the year-ago period.

Quarterly Average Assets Under Management (QAAUM) grew to ₹5,24,700 crore in Q2FY24 as compared to ₹4,29,300 crore for the quarter ended September 2022. QAAUM was up 8.1% on a sequential basis.

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“QAAUM in actively managed equity-oriented funds i.e. equity oriented QAAUM excluding index funds stood at ₹2,861 billion for the quarter ended September 30, 2023 with a market share of 12.4%. The AMC is amongst the largest actively managed equity-oriented mutual fund managers in the country,” HDFC AMC said in its presentation.

The ratio of equity oriented QAAUM and non-equity oriented QAAUM is 58:42, compared to the industry ratio of 51:49 for the quarter ended September 30, 2023.

A total of 5.86 million Systematic transactions with a value of ₹2,240 crore processed during the month of September 2023, the company said.

Total Live Accounts stood at 13.6 million as on September 30, 2023. Unique customers as identified by PAN or PEKRN now stands at 7.9 million as on September 30, 2023, compared to 40.4 million for the industry, a share of 19.6%, it added.

At 2:00 pm, HDFC AMC shares were trading 0.41% lower at ₹2,736.00 apiece on the BSE.

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