HDFC AMC Q3 PAT falls 2.5% YoY to Rs 359 cr

HDFC Asset Management Company reported a 2.58% decline in net profit to Rs 359.75 crore in Q3 FY22 from Rs 369.26 crore posted in Q3 FY21.

Revenue from operations increased 14% year on year to Rs 549.67 crore in Q3 FY22. Profit before tax stood at Rs 485 crore in Q3 FY22, slightly increasing from Rs 482.6 crore registered in Q3 FY21.

Operating profits from core asset management business grew by 8% despite an additional non-cash charge of Rs 17.32 crore towards amortized cost of outstanding employee stock options.

The company's total Assets Under Management (AUM) grew by 7% year on year to Rs 406,800 crore as of 31 December 2021. The company said it has 11.6% market share in AUM of the mutual fund industry.

HDFC Asset Management Company (HDFC AMC) is investment manager to 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, mutual fund distributors and national distributors.

The scrip fell 4.61% to Rs 2260.45 on the BSE. The stock hit a 52-week low of Rs 2,235.80 in intraday today. Meanwhile, the benchmark Nifty 50 index declined 468.05 points or 2.66% to close at 17,149.10.

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