HDFC AMC shares zoom over 6% to hit all-time-high levels after robust Q2 results

The stock jumped 6.4% to a record high of ₹4,848.1 a unit on the National Stock Exchange (NSE). At 11:09 am, the scrip was trading 5.9% higher at ₹4,825.

The market capitalisation of the company stands at ₹1,03,064.53 crore.

On the BSE, the stock was up 5.8% to ₹4,815.1 apiece.

HDFC AMC posts 32% increase in Q2 net profit to ₹577 crore

HDFC AMC's net profit stood at ₹576.61 crore for the quarter ended September 2024. It is an increase of 32% from ₹436.52 crore reported in the same quarter of the previous financial year.

Revenue from operations increased 37.9% to ₹887.21 crore, compared to ₹643.08 crore in the corresponding period last fiscal.

The total income surged 38% to ₹1,058.19 crore in the latest September quarter as against ₹765.35 crore a year back, HDFC AMC informed in an exchange filing on Tuesday.

For the half-year ended September 2024, the asset management company logged a profit after tax (PAT) of ₹1,180.3 crore and a total income of ₹2,007 crore.

The assets under management (AUM) expanded 47% year-on-year (YoY) to ₹7.69 lakh due to a rally in the stock market and increased inflows through new fund offers.

"Total live accounts stood at 20.7 million as on September 30, 2024. Unique customers as identified by PAN or PEKRN now stands at 11.8 million as on September 30, 2024 compared to 50.1 million for the industry, a penetration of 24%," the company said in a regulatory filing.

Incorporated in 1999, HDFC AMC is the investment manager (IM) of HDFC Mutual Fund. The company provides various savings and investment products, from mutual funds to portfolio management services and alternative investment opportunities.