HDFC AMC gains after strong Q3 numbers

HDFC Asset Management Company rose 0.80% to Rs 3,204.25 after net profit rose 44.90% to Rs 352.55 crore on 11.1% rise in total income to Rs 591.99 crore in Q3 December 2019 over Q3 December 2018.

HDFC Asset Management Company (HDFC AMC)'s profit before tax (PBT) rose 26.5% to Rs 466.03 crore year-on-year (YoY). Tax expense fell 10.4% to Rs 106.37 crore in Q3 December 2019 as against Rs 118.77 crore in Q3 December 2018. The result came in after market hours yesterday, 21 January 2020.

The operating profit of the company in Q3 December 2019 was Rs 398.70 crore as against Rs 312.70 crore in Q3 December 2018, registering an increase of 28%.

The quarter average assets under management (QAAUM) of Rs 3,825 billion as of 31 December 2019 compared to Rs 3,350 billion as on 31 December 2018, growth of 14%. It has 14.3% market share in QAAUM of the mutual fund industry.

QAAUM in actively managed equity oriented funds i.e. equity oriented QAAUM excluding arbitrage funds and index funds stood at Rs 1,666 billion as on 31 December 2019 with a market share of 15.8%. The AMC is the largest actively managed equity-oriented mutual fund manager in the country.

The ratio of equity oriented AUM and non-equity oriented assets under management (AUM) is 46:54 compared to the industry ratio of 41:59.

Market share of 15.5% of the individual monthly average AUM in the industry, making the company the most preferred choice of individual investors.

HDFC AMC is investment manager to HDFC mutual fund, the largest mutual fund in the country.

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