HDFC AMC has 11.3% market share in QAAUM of the mutual fund industry
FinTech BizNews Service
Mumbai, April 19, 2024: HDFC Asset Management Company Limited on Friday reported its financial performance for the quarter ended March 31, 2024.
CORPORATE HIGHLIGHTS
• The Quarterly Average Assets Under Management (QAAUM) of Rs6,129 billion for the quarter ended March 31, 2024 compared to Rs4,498 billion for the quarter ended March 31, 2023, 11.3% 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 Rs3,650 billion for the quarter ended March 31, 2024 with a market share of 12.8%. The AMC is amongst the largest actively managed equity-oriented mutual fund managers in the country.
• The ratio of equity and non-equity oriented QAAUM is 63:37, compared to the industry ratio of 54:46 for the quarter ended March 31,2024.
• 7.74 million Systematic transactions with a value of Rs29.3 billion processed during the month of March 2024.
• Over 85,000 empaneled distribution partners across MFDs, National Distributors and Banks, serviced through a total of 254 branches of which 174 are in B-30 locations. The contribution of B-30 locations to our total monthly average AUM is 19.1%.
• 71% of the company’s total monthly average AUM is contributed by individual investors compared to 61% for the industry.
• Market share of 13.3% of the individual monthly average AUM in the industry, making the company one of the most preferred choices of individual investors.
• Total Live Accounts stood at 16.6 million as on March 31, 2024. Unique customers as identified by PAN or PEKRN now stands at 9.6 million as on March 31, 2024 compared to 44.6 million for the industry, a share of 22%.
FINANCIAL HIGHLIGHTS FOR THE QUARTER ENDED MARCH 31, 2024
• The Operating Profit for the quarter ended March 31, 2024 was Rs5,236 million as compared to Rs3,948 million for the quarter ended March 31, 2023.
• Profit before tax for the quarter ended March 31, 2024 was Rs6,791 million as compared to Rs4,917 million for the quarter ended March 31, 2023.
• Profit after tax for the quarter ended March 31, 2024 was Rs5,411 million as compared to Rs3,761 million for the quarter ended March 31, 2023.
FINANCIAL HIGHLIGHTS FOR THE FINANCIAL YEAR ENDED MARCH 31, 2024
• The Operating Profit of the company for the financial year ended March 31, 2024 was Rs19,000 million as compared to Rs15,548 million for the financial year ended March 31, 2023.
• Profit before tax for the financial year ended March 31, 2024 was Rs24,781 million as compared to Rs18,706 million for the financial year ended March 31, 2023.
• Profit after tax for the financial year ended March 31, 2024 was at Rs19,458 million as compared to Rs14,239 million for the financial year ended March 31, 2023.
