HDFC asset management
In the fourth quarter, HDFC Asset Management Company (AMC) revealed a 43.8% increase in its standalone net profit to ₹541 crore. The AMC also noted a 28.5% year-on-year surge in revenue to ₹695.43 crore, compared to a net standalone revenue of ₹540.95 crore previously reported by the company.
The Asset Management Company (AMC) also announced a final dividend of ₹70 per share of Rs. 5/- each of the Company.
“Moreover, during the said meeting, the Board of Directors recommended a dividend of Rs. 70/- per equity share of Rs. 5/- each of the Company, for the financial year ending March 31, 2024, subject to the approval of shareholders at the upcoming Annual General Meeting. If endorsed by the shareholders, the dividend will be disbursed / transferred starting from the day following the ensuing Annual General Meeting,” stated HDFC AMC in its BSE filing on Friday, April 19.
The company’s standalone income surged by 33% to ₹851 crore in the reviewed quarter compared to ₹638 crore in the same period last year. Notably, the company’s total income in Q3 FY24 was ₹813.75 crore.
In FY24, the net consolidated profit attributable to shareholders soared by 36.48% to ₹1942.69 crore from ₹1423.37 crore in FY23. HDFC AMC witnessed a rise in earnings per equity share to ₹25.35 (basic) for Q4 FY24 from ₹17.63 in Q4 FY23. Furthermore, the annual earnings per equity share for the company escalated to ₹91.15 in FY24 from ₹66.75 in FY23.
On Friday, HDFC AMC shares concluded 1.73% lower at ₹3707.15 per share on the BSE. The company’s market capitalization on the BSE stood at ₹79,141.72 crore.
