HDFC AMC Q3 Results:The country’s leading mutual fund house HDFC Asset Management Company has announced excellent quarterly results. According to the results announced on Tuesday, HDFC AMC’s consolidated net profit for the three months ending December 31, 2024Net profit increased to Rs 641 crore. This shows a growth of 31% on annual basis (YoY). The company’s consolidated revenue (Revenue From Operations) during this period stood at Rs 935 crore.
Strong growth in AUM
HDFC Asset Management CompanyDuring the third quarter of the current financial year (2024-25)Showing excellent performance, better results have been achieved. Compared to the same period last year i.e. October-December 2023, the company’s consolidated net profit has increased by a huge 31% to Rs 641 crore during October-December 2024. The company’s net profit in the same quarter of the last financial year was Rs 487.92 crore, while it was recorded at Rs 576.61 crore during the three months ending September 2024.
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Operating income increased, total income declined
During the third quarter of the current financial year, the company’s consolidated operational revenue (Revenue From Operations) increased to Rs 935 crore, which was Rs 671.3 crore in the same period last year. Accordingly, the company’s consolidated operational revenue has seen a spectacular increase of 39.2% on an annual basis.
Even though the company’s operating income may have increased in Q3, the total income declined by about 2% on a quarterly basis. Total income in Q2 was Rs 1,058 crore, which declined to Rs 1,028 crore in Q3. HDFC AMC’s expenses increased by about 6% to Rs 188 crore in Q3 FY25 compared to Rs 177 crore in Q3 FY24. However, this figure is 6% less than the expenditure of Rs 199.78 crore in the previous quarter (Q2). The company’s tax liability also saw a big decline, falling by nearly 30% to Rs 198.5 crore in Q3 compared to Rs 281.8 crore in Q2.
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35% decline in other income
HDFC AMC’s other income fell to Rs 92.74 crore in the third quarter, compared to Rs 142.45 crore in the same period last year. That means on annual basis (YoY) there has been a decline of 35% in the other income of the company.
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Increase in total assets
HDFC AMC has said that at the end of December 2024, the total assets (financial + non-financial) of the company stood at Rs 8,035.7 crore. This is more than the assets of Rs 7,557.6 crore recorded on March 31, 2024. The company has also announced that its board has approved the proposal to grant 7,500 stock options to eligible employees. The grant price of these options has been fixed at Rs 3,834.55 per option. These announcements have been made after the meeting of the company’s board of directors held on January 14.
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HDFC AMC’s performance is a result of strong growth in assets under management (AUM) and better fund performance. The company has improved its returns while maintaining the confidence of investors, which has further strengthened its hold in the mutual fund industry. Shares of HDFC AMC closed at Rs 3,899.05 on Tuesday, which is Rs 64.50 or 1.68% higher than the previous closing price. The company’s results were revealed shortly before the market closed on Tuesday.
