HDFC AMC Q4 results: Net profit up 44% to Rs 541 crore, revenue up 29%
Shares for HDFC AMC closed at Rs 3,708 on Friday ahead of its financial results
HDFC Asset Management Company (AMC) on Friday reported a net profit increase to Rs 541.1 crore in the January-March quarter for financial year 2023-24 (Q4FY24), the company said in an exchange filing. This was a 44 per cent increase from Rs 376.1 crore reported during the same period last year (Q4FY23).
The company's revenue also increased 29 per cent to Rs 695.5 crore in the fourth quarter, compared to Rs 540.9 crore during the same period last year.
Sequentially, net profit went up 11 per cent from Rs 489.6 crore in the last quarter. Revenue increased four per cent from Rs 671.3 crore in Q3.
For the full financial year 2023-24, HDFC AMC reported a 37 per cent increase to Rs 1,945.8 crore compared to FY23. Operating revenue for the year was Rs 2,584.4 crore, up 19 per cent from last year.
Shares for HDFC AMC closed at Rs 3,708 on Friday ahead of its fourth quarter and annual financial results.