HDFC Asset Management Company Ltd (HDFC AMC) announced its financial results for the third quarter, ending December 2023, revealing a notable performance. The company reported a robust 32% year-on-year increase in its Profit After Tax (PAT), reaching ₹488 crore compared to ₹369.16 crore in the corresponding period of the previous year.
The positive momentum was also reflected in the total income of HDFC AMC, which witnessed a substantial growth of 23% year-on-year. The total income for the October-December quarter of the fiscal year 2023 (FY24) stood at ₹814.17 crore, a notable increase from ₹663 crore in the same period the previous year, as disclosed in the regulatory filing.
In a move to reward its shareholders, the asset management firm declared a final dividend of ₹48 per equity share (with a face value of ₹5 each) for the fiscal year ending March 31, 2023. This dividend was distributed during the period ending December 31, 2023.
Looking at the cumulative performance for the nine months ending December 31, 2023, HDFC AMC reported a PAT of ₹1,402 crore and a total income of ₹2,312.14 crore. The company, serving as the investment manager for HDFC Mutual Fund, one of India’s largest mutual funds, continues to demonstrate its financial strength and stability.
On the stock market front, HDFC AMC’s shares exhibited positive traction, trading 2.30% higher at ₹3,496.25 on the BSE. The encouraging financial results underscore the company’s resilience and effectiveness in navigating market dynamics, further consolidating its position as a key player in the asset management industry.
