HDFC AMC Q4FY23 results: Net profit rises 10% YoY to Rs 376 crore

The growth in profits and revenue come on the back of a 4 per cent rise in the average assets managed by the AMC

HDFC Asset Management Company (AMC) on Tuesday reported a 9.5 per cent year-on-year (YoY) jump in net profit to Rs 376 crore for the fourth quarter ended March 2023 (Q4FY23). The asset manager logged a net profit of Rs 1,424 crore, up 2 per cent YoY for the financial year 2022-23.

The revenue from operation came in almost 5 per cent higher - at Rs 541 crore for the quarter under review. For the full year, the revenue was up 2.4 per cent at Rs 2,167 crore.

The growth come on the back of a 4 per cent rise in the average assets managed by the AMC. The average assets under management (AUM) stood at Rs 4.5 trillion for the March quarter compared to Rs 4.3 trillion during the same period of the previous financial year. About 54 per cent of the AUM was is in equity-oriented schemes and the remaining 46 per cent in debt schemes.