HDFC AMC Q2 results: Net Profit Zooms 32%; Rev Up 38%
Net profit of HDFC AMC surged by 32% while Profit after tax (PAT) stood at ₹576.9 crore for the September quarter.
HDFC Bank
HDFC Asset Management Company (HDFC AMC) furnished a steady quarter (Q2 FY25) as its net profit surged by 31.83% on a Year-on-Year (YoY) basis. Profit after tax (PAT) stood at ₹576.9 crore as compared to ₹437.6 crore in year-ago period in the same quarter.
Revenue from operations stood at ₹887.21 crore, up by over 38% YoY. While total income surged to ₹1,058.19 crore in the September quarter, company’s PAT for the half ending in September 2024 came at ₹1,180.37 crore.
In a press release the company noted, “The ratio of equity and non-equity oriented QAAUM (Quarterly Average Asset Under Management) is 66:34, compared to the industry ratio of 57:43 for the quarter ended September 30, 2024. 10.31 million Systematic transactions with a value of Rs 36.80 crore processed during the month of September 2024."
The company also added that with a network of 90,000 empaneled distribution partners spread across MFDs, national distributors and banks, over 175 of the 255 branches are located in B-30 locations. The contribution of B-30 locations of the total monthly average AUM for September clocked at 19.5%.
Notably, in the parlance of mutual funds, B-30 cities refer to those cities that are ranked beyond top 30 (T30) cities in terms of their assets under management (AUM). These are basically those cities in India which have less exposure to various investment schemes,
AUM refers to the market value of all the investments held by an entity, individual or a financial institution.
T30 cities are top 30 cities in the country having higher levels of income and awareness about mutual fund investments. These are the cities which are economically developed and mostly urbanised.
Notably, shares of HDFC AMC rose by 1.46 per cent to touch at ₹4,548.65 in today’s trading session.
