HDFC Asset Management's net profit in March quarter up y-o-y by 44%

22 Apr 2024 , 04:00 PM

HDFC Asset Management Company reported a 44% year-on-year increase in consolidated net profit for the quarter ending March 31, 2024, reaching ₹540.84 Crore compared to ₹376.17 Crore in the previous year.

Consolidated revenue from operations for the quarter rose by 3.60% to ₹695.43 Crore from ₹671.32 Crore in the preceding quarter. Sequentially, the company’s profit after tax (PAT) increased by 11% to ₹541.09 Crore from ₹487.92 Crore in Q3FY2024, while revenue grew by 3.60%.

HDFC AMC recommended a final dividend of ₹70 per equity share. Profit before tax for the reported quarter stood at ₹678.84 Crore, up from ₹491.75 Crore in the same period last fiscal year.

On a standalone basis, net profit for Q4FY2024 was ₹541.09 Crore, compared to ₹376.20 Crore in the year-ago period, while standalone revenue from operations increased to ₹695.43 Crore from ₹540.95 Crore in the corresponding quarter of the previous financial year.

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