HDFC AMC Q3 Results: Net profit grows 31% YoY to ₹641.5 crore; shares end 1.70% higher

The figure grew 31% year-on-year (YoY) as the company had registered a net profit of ₹489.6 crore in the year-ago period.

Revenue from operations for the quarter under review came in at ₹934.3 crore, up 39% from ₹671.3 crore in the corresponding quarter of the previous fiscal year.

The total income of the company was ₹1,027.1 crore, up 26% from ₹813.7 crore registered in the December 2023 quarter.

Total expenses increased 7% YoY to ₹187.1 crore.

The company further said its operating profit from its core AM business jumped 51% YoY to ₹747.2 crore.

The figure was ₹496.1 crore in Q3 FY24.

The company's basic earnings per share (EPS) stood at ₹30.02 against ₹22.94 in the year-ago period.

The company's closing assets under management (AUM) during the quarter stood at ₹7,76,400 crore, as per the company's investor presentation.

Shares of the company ended 1.68% higher at ₹3,899.05 apiece on the NSE.

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About HDFC AMC

HDFC Asset Management Company Limited (HDFC AMC) is a mutual fund manager in India. It was incorporated in 1999 and is one of the country's most profitable asset management companies. HDFC AMC manages HDFC Mutual Fund, one of the leading mutual fund houses.