HDFC AMC Reports 20% YoY Growth with Rs 436.5 Crore Net Profit in Q2FY24

12 Oct 2023 , 03:25 PM

HDFC Asset Management Company (HDFC AMC) reports a Q2FY24 net profit of Rs 436.5 crore, marking a 20% YoY increase. The company’s revenue for the same period grew 18.1% to Rs 643.1 crore compared to Rs 544.7 crore in the previous year. Sequentially, net profit declined by 8.6%, but revenue increased by 11.9%. Operating profit for the quarter was Rs 467 crore, up from Rs 388.9 crore in the year-ago period.

Quarterly Average Assets Under Management (QAAUM) reached Rs 5,24,700 crore in Q2FY24, showing an 8.1% increase sequentially. The company manages a substantial market share of actively managed equity-oriented mutual funds in the country. Total Systematic transactions worth Rs 2,240 crore processed during September 2023.

HDFC AMC has a total of 13.6 million Live Accounts, with unique customers numbering 7.9 million as of September 30, 2023.

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