HDFC AMC Q3 PAT lower by -2.58% at Rs359.75cr on higher employee costs due to stock option grant

26 Jan 2022 , 05:56 PM

HDFC AMC Ltd reported 6.89% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs635.88cr. On a sequential basis, the revenues were higher for the quarter by 4.52%.

During the quarter, the company had seen some pressure due to loss of market share but the overall flows of SIPs have been quite robust and that has managed to hold up revenues even though the incremental yields on funds have been falling.

HDFC AMC now ranks third on overall AUM in India after SBI AMC and ICICI Prudential Mutual Fund.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was marginally lower by -2.58% at Rs359.75cr on higher employee costs and other expenses.

The spike in employee costs was largely on account of reflection of stock options allotted to employees. The other income, which is normally the value differential, was also lower yoy.

Net margins tapered from 62.07% in the Dec-20 quarter to 56.58% in the Dec-21 quarter. However, net margins were almost flat on a sequential basis.

Financial highlights for Dec-21 compared yoy and sequentially

	HDFC AMC Ltd
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 635.88	₹ 594.91	6.89%	₹ 608.40	4.52%
Net Profit (Rs cr)	₹ 359.75	₹ 369.26	-2.58%	₹ 344.38	4.46%
Diluted EPS (Rs)	₹ 16.86	₹ 17.31		₹ 16.14
Net Margins	56.58%	62.07%		56.60%