HDFC AMC Limited (NSE: HDFCAMC) has reported its financial results for the second quarter of the fiscal year 2023. The company’s Revenue for the quarter was ₹559.56 crore, representing an increase of 2.7% compared to the same period in the previous year. The Consolidated Net Profit for the business remained flat year over year, to ₹369.16 Crore from ₹364.85 Crore. Quarterly Average Assets under management (QAAUM) of the company stood at ₹4,448 billion, a decline of 0.5% compared to the second quarter of the previous year. This contraction also reflected on the top & bottom line in the company’s P&L. As of December 31, 2022, 66% of the company’s total monthly average AUM is contributed by individual investors compared to 58% for the industry.
Overall, the company reported a flat earnings in the third quarter of the fiscal year 2023. The management commented, “We have paid a final dividend of ₹42 per equity share for the year ended March 2022 as approved by its shareholders at the annual general meeting held on June 29, 2022.”
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