HDFC Asset Management Company released its fiscal fourth quarter earnings for the financial year 2023-24 with profit at Rs 540.84 crore, up 43.8 per cent in comparison to Rs 376.17 crore during the same period last year. It posted revenue from operations at Rs 695.43 crore, up 28.6 per cent on-year as against Rs 540.95 crore during the fourth quarter of FY23. The operating profit for the quarter ended March 31, 2024 was Rs 523.60 crore as compared to Rs 394.80 crore during the year ago period.
While the total income recorded by the company was at Rs 851.25 crore, total expenses incurred during the quarter in review stood at Rs 172.41 crore.
The company also announced a dividend of Rs 70 per equity share of Rs 5 each of the company, for the financial year ended March 31, 2024. “The dividend if approved by the shareholders, will be dispatched / remitted commencing from the day after the ensuing Annual General Meeting,” the company said in a regulatory filing.
HDFC AMC reported QAAUM of Rs 612.90 thousand crore for the quarter ended March 31, 2024 as compared to Rs 449.80 thousand crore for the same period last year. QAAUM in actively managed equity-oriented funds i.e. equity oriented QAAUM excluding index funds
stood at Rs 365 thousand crore for Q4FY24 with a market share of 12.8 per cent.
HDFC AMC said that it processed 7.74 million systematic transactions with a value of Rs 2930 crore during the month of March 2024. It further added that over 85,000 empaneled distribution partners across MFDs, National Distributors and Banks, serviced through a total of 254 branches of which 174 are in B-30 locations. “The contribution of B-30 locations to
our total monthly average AUM is 19.1 per cent,” it said.
71 per cent of HDFC AMC’s total monthly average AUM is contributed by individual investors as compared to 61 per cent for the industry.
In the regulatory filing, HDFC AMC said that the total live accounts for the Q4 quarter stood at 16.6 million.
