HDFC AMC gains as Q2 PAT rises 6% YoY to Rs 364 cr

HDFC Asset Management Company rose 2.05% to Rs 1,974 after the AMC reported 6% rise in net profit to Rs 364.13 crore on a marginal rise in total income to Rs 648.93 crore in Q2 FY23 over Q2 FY22.

Operating Profit for the quarter ended 30 September 2022 was Rs 388.9 crore as compared to Rs 395.4 crore for the quarter ended 30 September 2021.

Profit before tax in Q2 FY23 stood at Rs 493.13 crore, up by 6% from Rs 461.37 crore in Q2 FY22.

Total expenses during the quarter rose 6% YoY to Rs 155.80 crore due to an increase in other expenses (up 11% YoY) and finance costs (up 9% YoY).

The AMC had a QAAUM (quarterly average assets under management) of Rs 4,29,300 crore as of 30 September 2022 compared to Rs 4,38,900 crore as on 30 September 2021, a slide of 2.2%, and its market share was 11% in QAAUM of the mutual fund industry.

QAAUM in actively managed equity-oriented funds i.e. equity oriented QAAUM excluding index funds stood at Rs 2,11,300 crore as on 30 September 2022 with a market share of 11.5%. The AMC said that it is among the largest actively managed equity-oriented mutual fund managers in the country.

As of 30 September 2022, 65.5% of the company's total monthly average AUM is contributed by individual investors compared to 57% for the industry.

Total live accounts stood at 10.4 million as on 30 September 2022. Unique customers as identified by PAN or PEKRN now stands at 6.1 million as on 30 September 2022 compared to 36 million for the industry, a market share of 17%.

HDFC Asset Management Company (HDFC AMC) is the investment manager of HDFC Mutual Fund, one of the largest mutual funds in the country. The AMC has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors, and national distributors.

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