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HDFC AMC Q3 profit leaps 32%, revenue roars 20%

12 Jan 2024 , 01:34 PM

For the quarter that concluded in December 2023, HDFC Asset Management Company announced a consolidated net profit of Rs 488 crore on January 11. Net profit grew 32.2% year-on-year from Rs 369.2 crore in the same quarter last year.

Consolidated income increased by 20% YoY to Rs 671.3 crore from Rs 559.6 crore in the same period last year, according to a report from HDFC AMC to the exchange.

The stock experienced a significant increase on NSE following the results announcement. The stock was trading at Rs 3,444.45 at 1:15 pm, down 1.65% from the previous close.

With Rs 5.75 lakh billion in assets under management at the end of the quarter, the AMC In the meantime, Rs 5.51 lakh crore was reported as Quarterly Average Assets Under Management (QAAUM).

The company’s operational profit from core asset management sector climbed 25% to Rs 496.1 crore.

As of December 31, 2023, the company had invested a total of Rs 6469.5 crore. of which, mostly due to regulatory requirements, around 90% is invested in mutual funds. Debentures and tax-free bonds account for 6.1%, with AIFs and other equities making up roughly 3%.

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HDFC AMC Q3 Results: Cons PAT jumps 32% YoY to Rs 488 crore - The Economic  Times

Related Tags

  • HDFC AMC
  • Q3
  • result
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