Last Updated on October 17, 2023 by BFSLTeam BFSLTeam
Table of Content
Highlights of the HDFC AMC Result
For the period ended September 30, 2023. HDFC Asset Management Company has declared its quarterly results with the following highlights:
- HDFC Asset Management Company reported a net profit of ₹436.5 crore in Q2FY24, a 20% YoY growth.
- In the same period last year, the company had a net profit of ₹363.8 crore.
- HDFC AMC’s revenue in Q2FY24 increased by 18.1% YoY, reaching ₹643.1 crore from ₹544.7 crore.
- On a sequential basis, net profit decreased by 8.6%, while revenue rose by 11.9%.
- The operating profit for the quarter was ₹467 crore, compared to ₹388.9 crore in the previous year.
- Quarterly Average Assets Under Management (QAAUM) in Q2FY24 reached ₹5,24,700 crore, showing an 8.1% sequential increase from ₹4,29,300 crore in September 2022.
Additional Read: Q2 Results Dashboard
HDFC AMC’s Strong Performance in Q2FY24
QAAUM Growth
HDFC AMC achieved a remarkable Quarterly Average Assets Under Management (QAAUM) of ₹524,700 Cr in the quarter ending September 2023, showcasing significant growth from ₹429,300 Cr in September 2022.
Market Dominance
This robust performance solidifies HDFC AMC’s position with over 10% market share in QAAUM within the Indian mutual fund industry, making it a key player in the sector.
Leading in Active Management
Notably, HDFC AMC emerges as one of India’s premier actively managed mutual fund houses, particularly excelling in equity-focused funds.
Transaction Volumes
During September 2023, HDFC AMC executed an impressive 5.86 million transactions, with a total value of ₹2,240 Cr.
Retail Investor Preference
A noteworthy trend is that 67.5% of the AMC’s total monthly average AUM in August 2023 is contributed by individual investors, surpassing the industry average of 58.8%.
Growing User Base
As of September 30, 2023, HDFC AMC boasts a substantial live account base of 13.6 million, underlining its expanding reach and influence in the market.
Additional Read: HDFC AMC Share Price
About the Company
The HDFC Asset Management Company (AMC) Limited was established on December 10, 1999, under the Companies Act of 1956. Furthermore, it was given approval by the Securities and Exchange Board of India (SEBI) to act as an Asset Management Company for the HDFC Mutual Fund vide SEBI’s letter that was dated July 3, 2000. The Trustee has appointed HDFC Asset Management Company Limited to manage and administer the HDFC Mutual Fund in accordance with the terms of the Investment Management Agreement. Currently, the AMC operates 28 open-ended HDFC Mutual Fund schemes.
Over the last few decades, HDFC Asset Management Company has established itself as one of the most significant Indian mutual fund houses. Some of the milestones achieved by HDFC AMC include the acquisition of Zurich Mutual Fund schemes in 2003, the acquisition of Morgan Stanley Mutual Fund in 2014, and the fact that it became a listed company in 2018. The HDFC AMC comprises a widespread network of 228 ISCs (Investor Service Centres) spanning over 200 cities. Additionally, they offers Portfolio Management Services and SMA (Small Managed Account) Services to cater to the needs of investors. The aim of the fund house is to create wealth for retail investors from funds and investment services that match the different financial goals of a variety of investors.
Additional Read: HDFC Life Insurance Company Ltd.
HDFC AMC Financial Results
HDFC AMC, HDFC Asset Management Company, has reported a net profit of ₹ 436.5 Cr (Profit After Tax) for the quarter ending September 2023. This translates to a 20% YoY growth. In the year-ago quarter (September 2022), the company had reported a net profit of ₹ 364.1 Cr. Additionally, the revenue of HDFC AMC has grown by 18.1%.
Additional Read: HDFC Bank Overview
HDFC AMC Financial Statements – Details
| Metrics | Q2 FY 2022-2023 | Q2 FY 2023-2024 |
| Total Income | ₹ 648.93 Cr | ₹ 765.22 Cr |
| Total Expenses | ₹ 155.80 Cr | ₹ 176.09 Cr |
| Profit Before Tax | ₹ 493.13 Cr | ₹ 589.13 Cr |
| Profit After Tax | ₹ 364.1 Cr | ₹ 437.56 Cr |
| Metrics | 31 March, 2023 | 30 September, 2023 |
| Total Assets | ₹ 6,536.53 Cr | ₹ 6,429.90 Cr |
| Total Liabilities | ₹ 428.12 Cr | ₹ 404.67 Cr |
Source: https://www.hdfcfund.com/about-us/corporate-profile/hdfc-mf-at-a-glance
