HDFC AMC Q4 Results 2024

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Synopsis:

HDFC Asset Management Company Limited (HDFC AMC) presents its financial overview for the fiscal year 2023-2024, showcasing significant growth and leadership in the Indian mutual fund market. As of March 31, 2024, HDFC AMC manages a robust Quarterly Average Assets Under Management (QAAUM) of ₹6,129 billion, maintaining an 11.3% market share. Reported operational revenue reached ₹25,844 million, showing a 19% increase from the previous fiscal year.

Corporate Highlights:

Leadership in the Market:

  • verall Market Position: HDFC AMC ranks among India’s largest mutual fund managers, holding an 11.3% market share of Quarterly Average Assets Under Management (QAAUM) as of March 31, 2024.
  • Equity Fund Management: The company is also one of the leading managers of actively managed equity mutual funds, with a 12.8% share of equity-oriented QAAUM for the same period.

Investor Preference:

HDFC AMC continues to be a preferred choice for individual investors, securing a 13.3% share of the individual monthly average AUM for March 2024.

Explore: HDFC AMC Share Price

Operational Footprint:

  • HDFC AMC operates through 254 branches, including 174 in B-30 (beyond top 30 cities) locations, significantly contributing 19.1% to the total monthly average AUM.
  • The company works with over 85,000 empaneled distribution partners, encompassing Mutual Fund Distributors (MFDs), National Distributors, and banks.

Financial Performance:

Annual Growth:

  • Revenue: Reported revenue from operations was ₹25,844 million, marking a 19% increase over the previous fiscal year.
  • Operating Profit: Achieved ₹19,000 million, reflecting a growth of 22% from the previous year.
  • Net Profit: The net profit after tax reached ₹19,458 million, an impressive increase of 37% over the last financial year.

Quarterly Financials for Q4 FY 2023-2024:

  • Operating Profit: Grew to ₹5,236 million from ₹3,948 million in Q4 of the previous year.
  • Profit Before Tax: Rose to ₹6,791 million from ₹4,917 million in the corresponding quarter of the previous year.
  • Profit After Tax: Increased to ₹5,411 million from ₹3,761 million in Q4 of the previous fiscal year.

Asset Management Metrics:

QAAUM Performance:

  • Total QAAUM stood at ₹6,129 billion as of March 31, 2024, up from ₹4,498 billion a year earlier, maintaining an 11.3% market share in the mutual fund industry.
  • Equity-oriented QAAUM, excluding index funds, was ₹3,650 billion, asserting the firm’s dominant position in actively managed equity funds.

Investor Engagement:

  • Processed 7.74 million systematic transactions in March 2024 alone, with a total value of ₹29.3 billion.
  • The company serves 16.6 million live accounts, with unique customers identified by PAN or PEKRN totaling 9.6 million as of March 31, 2024.

Market Share and Investor Base:

Individual Investors: Individual investors contribute to 71% of the company’s total monthly average AUM, significantly higher than the industry average of 61%.

Additional Read: Quarterly Result

Financial performance for Q4 FY24 compared to Q3 FY24

Additional Read: Annual Results

About HDFC Asset Management Company Limited (HDFC AMC)

HDFC AMC was established in 1999 and serves as the Investment Manager to HDFC Mutual Fund, which is one of India's largest mutual funds. As of March 31, 2024, HDFC Mutual Fund reported a closing Assets Under Management (AUM) of Rs 6.07 trillion.

HDFC AMC provides a broad array of savings and investment solutions. These include a variety of mutual funds encompassing both actively managed and passive strategies, portfolio management services, and alternative investment options. These diverse offerings cater to the varied financial goals and needs of a large and diverse client base. The company has a substantial investor base, with 9.6 million unique mutual fund investors and 16.6 million live accounts. HDFC AMC’s expansive operational network includes 254 branches and more than 85,000 distribution partners. The company also leverages modern digital platforms to enhance accessibility and service quality for clients throughout India.

Results for the Fourth Quarter and Full Year Ended March 31, 2024

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Source - https://www.hzlindia.com/wp-content/uploads/Earnings-Press-Release_Q4FY24-_-190424.pdf

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