HDFC Asset Management Company Ltd (HDFC AMC) on Tuesday reported a 10 percent year-on-year (YoY) rise in net profit at Rs 376.2 crore for the fourth quarter that ended March 31, 2023. In the corresponding quarter last year, the company posted a net profit of Rs 343 crore.
In the March quarter, total revenue stood at Rs 541 crore during the period under review, up 5 percent against Rs 516 crore in the corresponding period of the preceding fiscal, the company said in an exchange filing.
For the financial year ended March 31, 2023, the profit after tax was at Rs 1,423.9 crore as compared to 1,393.1 crore for the financial year ended March 31, 2022.
The Quarterly Average Assets Under Management (QAAUM) of Rs 4,49,800 crore for the quarter ended March 31, 2023, compared to 4,32,100 crore for the quarter ended March 31, 2022. HDFC AMC has over 11 percent 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 2,31,700 crore for the quarter ended March 31, 2023 with a market share of 12 percent. The AMC is amongst the largest actively managed equity-oriented mutual fund managers in the country, the company said.
The ratio of equity-oriented AUM and non-equity-oriented QAAUM is 54:46, compared to the industry ratio of 49:51 for the quarter that ended March 31, 2023.
As of March 31, 2023, 67 percent of the company's total monthly average AUM (assets under management) is contributed by individual investors compared to 58 percent for the industry.
The market share of 12.9 percent of the individual monthly average AUM in the industry, making the company one of the most preferred choices of individual investors, it added.
The Board of Directors has recommended a dividend of Rs 48 per equity share of Rs 5 each of the company, for the financial year ended March 3 1, 2023, subject to the approval of shareholders.
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