HDFC AMC Q2 Results FY2024, Net profit at Rs. 436.52 crores

On 12th October 2023, HDFC AMC announced its quarterly results.

Key Highlights:

- The company reported revenue from operations at Rs. 643.08 crore, up by 18.06% YoY.
- Profit before tax for the quarter ended September 30, 2023 was Rs.588.09 crores as compared to Rs.492.85 crores for the quarter ended September 30, 2022, up by 19.32% YoY. 
- Profit after tax for the quarter ended September 30, 2023 was Rs.436.52 crores as compared to Rs. 363.85 crores for the quarter ended September 30, 2022, up by 19.97% YoY.

Business Highlights:

- In comparison to the quarter ended September 30, 2022, QAAUM increased to Rs.5,247 billion for the quarter ended September 30, 2023, representing an 11.2% market share for the mutual fund sector.
- For the quarter ended September 30, 2023, QAAUM in actively managed equity-oriented funds, or equity-oriented QAAUM excluding index funds, amounted at Rs.2,861 billion with a market share of 12.4%. 
- For the quarter ending September 30, 2023, the ratio of equity-oriented QAAUM to non-equity-oriented QAAUM was 58:42, as opposed to 51:49 for the industry.
- In September 2023, 5.86 million systematic transactions totaling Rs.22.4 billion were executed.
- Over 80,000 distribution partners with em-paneled accounts from MFDs, National Distributors, and Banks are served by a total of 229 branches, 151 of which are situated in B-30 areas. The contribution of B-30 sites to its overall monthly average AUM is 18.2%.
- Individual investors made up 67.5% of the company's total monthly average AUM for August 2023, compared to 57.8% for the sector.
- As of September 30, 2023, there were 13.6 million Live Accounts overall. As of September 30, 2023, there were 7.9 million unique customers as recognized by PAN or PEKRN, compared to 40.4 million for the industry, a share of 19.6%.