HDFC AMC Q3 results: Profit jumps 31%, revenue surges 39% to Rs 934 cr

HDFC Asset Management Company (AMC) on Tuesday reported a 31 per cent year-on-year (YoY) jump in net profit to Rs 642 crore for the December quarter (Q3). Compared to the September quarter, the profit rose 11 per cent. Revenue from operations soared 39 per cent YoY to Rs 934 crore.

 

HDFC Mutual Fund is the third-largest fund house in India, with average quarterly assets under management (AUM) of Rs 7.9 trillion in Q4. According to the AMC, HDFC MF's AUM market share in Q4 stood at 11.5 per cent. In the actively managed fund space, the AUM share was 12.8 per cent.

 

The AMC stated that the fund house had 22.1 million active accounts at the end of the quarter, with the number of unique investors at 12.6 million. This figure represents 24 per cent of the total mutual fund (MF) investor count of 44.6 million.

 

The HDFC AMC share gained 1.68 per cent on the NSE on Tuesday, closing at Rs 3,899.

 

For the nine-month period ended December 31, 2024, operating profit stood at Rs 2,015 crore compared to Rs 1,376 crore during the same period in the previous financial year. Profit after tax for the nine-month period was Rs 1,822 crore, as against Rs 1,405 crore in the April-December period in 2023. 

Sebi proposes mandatory demat for stock split

 

The Securities and Exchange Board of India (Sebi) on Tuesday proposed amendments to mandate issuance of securities only in dematerialised form in case of split, consolidation of face value of securities and scheme of arrangement. At present, only few investors hold securities in physical form and can sell or transfer such securities only after dematerilisation.   

 

Groww MF launches first Nifty India Railways PSU ETF 

 

Groww Mutual Fund (MF) on Tuesday launched Nifty India Railways PSU exchange- traded fund (ETF), a first such offering in the industry. It will replicate the performance of the Nifty India Railways PSU Index -TRI, comprising public sector undertakings (PSUs) essential to the railw­ays sector, spanning infrastructure, fin­ancial services, logistics, and technology.