HDFC AMC Q3 results: Profit jumps 32%, sales up 20%; stock reacts

HDFC AMC on Thursday reported a consolidated profit after tax (PAT) of Rs 487.92 crore for the December quarter, up 32.17 per cent over Rs 369.16 crore in the corresponding quarter last year. The bottomline was aided by a 38 per cent YoY rise in other income, which stood at Rs 142.4 crore against Rs 103.40 crore YoY.

The asset manager said its sales for the quarter grew 19.97 per cent YoY to Rs 671.32 crore for the third quarter against Rs 559.56 crore in the same quarter last year. Feeds and commission expenses fell 33 per cent but employee benefit expenses jumped 14 per cent YoY. Finance cost for the quarter fell 8 per cent, HDFC AMC said.

HDFC AMC said its assets under management stood at about Rs 5,75,000 crore at the end of September quarter, out of which its actively managed equity-oriented AUM stood at Rs 3,16,600 crore while its debt average assets stood at Rs 1,35,300 crore. PMS AUM stood at Rs 1,800 crore, HDFC AMC said. The AMC commanded 12.6 per cent market share in equity assets, 13.2 pre cent market share in 13.2 per cent and 11.5 per cent market share in liquid assets.

The AMC said it had 87 lakh unique investors and 1.49 crore live accounts.

The company said it shareholders approved the re-appointment of Sashidhar Jagdishan as MD & CEO. Shares of HDFC AMC jumped 1.58 per cent to a high of Rs 3,471.70 .90 on BSE in a knee-jerk reaction to quarterly earnings. The stock hit a 52-week high of Rs 3,490 today.

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