HDFC AMC Q2FY23 PAT up 5.73% at Rs364.13 crore on stable net profit growth in the quarter

24 Oct 2022 , 07:25 PM

HDFC AMC Ltd reported 6.66% growth in total revenues for the September 2022 quarter on consolidated basis at Rs648.93cr.

Revenue growth was 21.77% in sequential terms, helped by AUM consolidation in the quarter.

For the purpose of the funds business, other income is included in the top line since it largely is inclusive of MTM gains in the portfolio.

The fund saw its net cash from operations in the first half of the fiscal fall sharply on account of a spike in trade receivables. HDFC has remained the third largest fund in India by AUM.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 5.73% at Rs364.13cr on the back of a steady net margins of over 55% maintained by the fund over the quarters.

For FY22, the company has paid full year dividend of Rs42 per share. It is into the asset management business and revenues from AMC fees have been hit by falling spreads.

PAT margins were flat at 56.11% in the Sep-22 quarter compared to 56.6% in the Sep-21 quarter but lower than 58.96% in June 2022 quarter. It saw top management changes in the fiscal.

Financial highlights for Sep-22 compared yoy and sequentially

	HDFC AMC
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 648.93	₹ 608.40	6.66%	₹ 532.90	21.77%
Net Profit (Rs cr)	₹ 364.13	₹ 344.38	5.73%	₹ 314.19	15.89%
Diluted EPS (Rs)	₹ 17.06	₹ 16.14		₹ 14.72
Net Margins	56.11%	56.60%		58.96%