HDFC AMC hits 52-week high amid strong quarterly performance with 20% growth in PAT

HDFC AMC – Quarterly Results

After the market closed yesterday, HDFC Asset Management Company Ltd (HDFC AMC) announced its financial results for the quarter ending September 30, 2023. In Q2FY24 on a consolidated basis company recorded a robust financial performance with a significant 19.97% year-on-year increase in net profit reaching Rs 436.52 crore compared to Rs 363.85 crore in the corresponding quarter of the previous year. During the second quarter of FY24, the company’s total net revenue showed a growth of 17.90%, soaring from Rs 648.93 crore to Rs 765.35 crore compared to the same quarter in the preceding year.

Sequentially, the net profit for the quarter ending on September 30, 2023, showed a decline of 8.56% from Rs 477.41 crore. However, in Q2FY24, the company’s total net revenue registered a 4.47% increase compared to the previous quarter, settling at Rs 732.62 crore.

As of September 30, 2023, the company has actively managed Assets Under Management (AUM) of Rs 2,861,00 crore in equity schemes, representing a 12.4% market share. It also has Rs 1,369,00 AUM in debt schemes, accounting for a 13.3% market share and Rs 6,86,00 crore AUM in liquid schemes, which constitute an 11.8% market share.

Yesterday the shares of HDFC AMC closed at Rs 2,757.25 and today it opened at Rs 2,758.05 and currently, it is trading at Rs 2,882.95, up by 4.56%. Today shares of the company hit a fresh 52-week high at Rs 2,910.70 and it has a 52-week low at Rs 1,595.25. HDFC AMC currently commands a market capitalisation of approximately Rs 61,500 crore, with shares having generated a one-year staggering return of 50.06%.

About HDFC AMC

HDFC AMC is the investment manager to the schemes of HDFC Mutual Fund (HDFC MF). It is India’s most profitable mutual fund manager, leading in actively managed equity-oriented assets under management (AUM). It offers a comprehensive suite of savings and investment products across asset classes, which provide income and wealth creation opportunities to its large retail and institutional customers. It has a dominant position in equity investments, with the highest market share in actively managed equity-oriented funds.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.