Last Updated on January 16, 2024 by BFSLTeam BFSLTeam
Table of Content
Key Highlights Q3 2023-24 Results
Financial Performance Highlights
1. Net Profit Surge: HDFC AMC achieved a noteworthy net profit of ₹4,896 million for the quarter ending December 31, 2023, marking a substantial 33% increase compared to the same period in 2022.
2. Financial Declaration: HDFC Asset Management Company Limited (HDFC AMC) officially disclosed its financial results for the quarter concluded on December 31, 2023, showcasing a positive trajectory in its financial standing.
3. Market Leadership in QAAUM: HDFC AMC solidified its position as one of India’s largest mutual fund managers, boasting an 11.2% market share in QAAUM for the quarter ending December 31, 2023.
Additional Read: Quarterly Results Dashboard
4. Actively Managed Equity Mutual Funds: Recognized as a prominent player, HDFC AMC holds a substantial 12.6% market share in Actively Managed Equity Mutual Funds for the same quarter, emphasizing its strong presence in this specific market segment.
5. Preferred Choice for Investors: HDFC AMC emerges as a top preference for individual investors, capturing a notable 13.2% market share of the individual monthly average AUM in November 2023.
6. Operational Revenue and Profit Growth: The company reported a robust financial performance with revenue from operations reaching ₹6,713 million and operating profit standing at ₹4,961 million for the quarter ended December 31, 2023. This signifies a remarkable 20% and 25% increase, respectively, compared to the corresponding figures from the quarter ended December 31, 2022.
Additional Read: HDFC Group
Corporate Highlights
1. QAAUM Growth: HDFC AMC demonstrated substantial growth in QAAUM, reaching ₹5,515 billion in Q4 2023, compared to ₹4,448 billion in Q4 2022, securing an impressive 11.2% market share in the mutual fund industry.
2. Actively Managed Equity Funds: The actively managed equity-oriented funds, excluding index funds, achieved a QAAUM of ₹3,166 billion in Q4 2023, attaining a noteworthy market share of 12.6%. This cements HDFC AMC as one of the leading equity-oriented mutual fund managers in the country.
3. Equity-Oriented QAAUM Composition: The ratio of equity-oriented QAAUM to non-equity-oriented QAAUM stands at approximately 61:39, outperforming the industry standard of 53:47 as of Q4 2023.
4. Systematic Transactions: Processing 6.81 million systematic transactions valued at ₹26.3 billion in December 2023, HDFC AMC demonstrated a robust operational capability.
5. Extensive Distribution Network: With over 80,000 empaneled distribution partners across MFDs, National Distributors, and Banks, supported by a network of 253 branches, including 24 new branches inaugurated on January 2, 2024, HDFC AMC extends its reach and service across diverse locations.
6. B-30 Location Contribution: B-30 locations contribute significantly, constituting 18.8% of the total monthly average AUM for November 2023, showcasing the company’s commitment to serving a broad spectrum of investors.
7. Individual Investor Dominance: An impressive 70.0% of the company’s total monthly average AUM for November 2023 is attributed to individual investors, surpassing the industry average of 59.2%.
8. Preferred Choice for Investors: HDFC AMC secured a market share of 13.2% in the individual monthly average AUM for November 2023, affirming its status as one of the most preferred choices for individual investors.
9. Active Accounts and Unique Customers: As of December 31, 2023, HDFC AMC boasts a total of 14.9 million live accounts, with 8.7 million unique customers identified by PAN or PEKRN, claiming a significant 20.6% share compared to the industry’s 42.0 million unique customers.
Financial Highlights – Quarter Ended December 31, 2023
1. Operating Profit: In Q3 2023, the Operating Profit reached ₹4,961 million, displaying a notable increase from ₹3,974 million in the same quarter of the previous year (Q3 2022).
2. Profit Before Tax: The Profit Before Tax for Q3 2023 stood at ₹6,385 million, showcasing substantial growth from ₹5,008 million reported in Q3 2022.
3. Profit After Tax: The Profit After Tax for Q3 2023 amounted to ₹4,896 million, marking a significant rise from ₹3,695 million recorded in Q3 2022.
Additional Read: HDFC AMC Share Price
HDFC AMC Financial Highlights – Nine Months Ended December 31, 2023
4. Operating Profit: Over the nine months ending December 31, 2023, the company’s Operating Profit totaled ₹13,764 million, exhibiting an increase from ₹11,600 million in the corresponding period of the previous year (Nine Months Ended December 31, 2022).
5. Profit Before Tax: The Profit Before Tax for the nine months ending December 31, 2023, reached ₹17,990 million, reflecting substantial growth from ₹13,789 million reported in the same period of the previous year.
6. Profit After Tax: The Profit After Tax for the nine months ending December 31, 2023, amounted to ₹14,047 million, indicating a significant surge from ₹10,478 million recorded in the corresponding period of the previous year.
About HDFC AMC
Established in 1999, HDFC Asset Management Company Limited (HDFC AMC) stands as the Investment Manager to HDFC Mutual Fund, a formidable player in the Indian financial landscape boasting a closing AUM of Rs 5.75 trillion as of December 31, 2023. Distinguished by its commitment to offering a comprehensive suite of savings and investment products, HDFC AMC caters to a diverse clientele. Its product portfolio encompasses a range of mutual funds, spanning both actively managed and passive options, along with portfolio management services and alternative investment opportunities. Proudly serving a mutual fund customer base of 8.7 million unique investors and managing a total of 14.9 million live accounts, HDFC AMC has established itself as a trusted financial partner. With a robust network comprising 253 branches, a vast array of over 80,000 distribution partners, and modern digital platforms, the company ensures widespread accessibility, effectively serving clients across the entirety of India. This multifaceted approach underscores HDFC AMC’s commitment to meeting the varied financial needs of its extensive and diverse customer base.
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