HDFC AMC Q2 results: Net profit rises 32% to ₹577 crore, revenue up 38%

HDFC Asset Management Company (AMC) announced on Tuesday a 32 per cent year-on-year increase in profit after tax (PAT), reaching ₹576.61 crore for the quarter ending September 2024. In the same period of the previous financial year (FY24), the company's PAT was ₹436.52 crore.

HDFC AMC reported a 38 per cent increase in its total income, which rose to ₹1,058.19 crore in the July-September quarter, up from ₹765.35 crore during the same period last year, according to a stock exchange filing.

For the half-year ending in September 2024, the company reported a profit after tax (PAT) of ₹1,180.37 crore and a total income of ₹2,007 crore.

For the half-year ending September 2024, the company reported a profit after tax (PAT) of ₹1,180.37 crore and a total income of ₹2,007 crore.

Assets Under Management (AUM) increased by 7.5 per cent, reaching ₹7.58 lakh crore by the end of Q2. The company's equity market share remained steady at 12.9 per cent, while its share in the debt market rose to 13.5 per cent from 13.3 per cent.

The liquid market share also improved slightly, increasing from 12 per cent to 12.1 per cent.

The QAAUM (Quarterly Average Assets Under Management) in actively managed equity-oriented funds, excluding index funds, amounted to ₹4,676 billion for the quarter ending September 30, 2024, representing a 12.9% market share. The AMC is one of the largest managers of actively managed equity-oriented mutual funds in the country.

HDFC Asset Management Company Limited (HDFC AMC), established in 1999, serves as the Investment Manager for HDFC Mutual Fund, one of the largest mutual funds in India, with assets under management (AUM) totaling ₹7.69 trillion as of September 30, 2024.

The company provides a wide range of savings and investment products, including both actively managed and passive mutual fund options, along with portfolio management services and alternative investment solutions, tailored to meet the needs of a broad and diverse client base.

As of around 3 pm, shares of HDFC AMC were trading 1.11 per cent higher at ₹4,533 on the Bombay Stock Exchange (BSE).