HDFC AMC Q4 PAT climbs 44% YoY; recommends dividend of Rs 70/sh

The asset management company's standalone net profit jumped 43.83% to Rs 541.09 crore on 33.4% rise in total income to Rs 850.89 crore in Q4 FY24 over Q4 FY23.

Revenue from operations in Q4 FY24 stood at Rs 695.43 crore, registering a growth of 28.56% year on year.

Operating profit climbed 32.62% YoY to Rs 523.6 crore in the quarter ended 31 March 2024.

For Q4 FY24, profit before tax was at Rs 679.09 crore, up 38.09% from Rs 491.78 crore posted in same quarter last year.

QAAUM (quarterly average assets under management) of Rs 6,12,900 crore for the quarter ended March 2024, up 36.26% form Rs 4,49,800 crore in the same period a year ago, 11.3% market share 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 3,65,000 crore for the quarter ended 31 March 2024 with a market share of 12.8%. The AMC stated that it is amongst the largest actively managed equity-oriented mutual fund managers in the country.

The ratio of equity oriented AUM and non-equity oriented QAAUM was around 63:37, compared to the industry ratio of 54:46 as on 31 March 2024.

71% of the companys total monthly average AUM is contributed by individual investors compared to 61% for the industry.

The company said that 7.74 million systematic transactions with a value of Rs 29,300 crore processed during the month of March 2024.

As on 31 March 2024, total live accounts stood at 16.6 million, unique customers as identified by PAN or PEKRN stands at 9.6 million compared to 44.6 million for the industry, a share of 22%.

On full year basis, the company's net profit increased 36.66% to Rs 1,945.88 crore on 27.38% rise in total income to Rs 3,162.43 crore in FY24 over FY23.

Meanwhile, the board of directors recommended a dividend of Rs 70 per equity share for the financial year ended 31 March 2024, subject to approval of shareholders.

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.

The scrip declined 1.73% to close at Rs 3,707.15 on the BSE.

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