Conference Call with HDFC Asset Management Company Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
HDFC Asset Management Company announced Q2FY24 results: 1. Financial Highlights for the Quarter: - Net profit for the quarter ended September 30, 2023 was Rs 4,376 million, a 20% increase compared to the same quarter last year. - Revenue from operations was Rs 6,431 million, an 18% increase compared to the same quarter last year. - Operating profit was Rs 4,670 million, a 20% increase compared to the same quarter last year. 2. AUM and Market Share: - QAAUM of the mutual fund industry stood at Rs 5,247 billion, with HDFC AMC holding a market share of 11.2%. - Actively managed equity-oriented QAAUM was Rs 2,861 billion, with HDFC AMC holding a market share of 12.4%. - Individual investors accounted for 67.5% of the company's total monthly average AUM for August 2023. 3. Distribution Network: - HDFC AMC has a network of 229 branches, with 151 located in B-30 cities. - Over 80,000 distribution partners, including Mutual Fund Distributors, National Distributors, and Banks. 4. ESG Initiatives: - HDFC AMC has a strong focus on Environmental, Social, and Governance (ESG) principles. - The company is a signatory of Principles for Responsible Investment and has adopted the CFA Institute's Asset Manager Code of Professional Conduct. 5. Digital Initiatives: - Enhancements to the company's website and mobile app, including new user journeys and improved functionality. - Emphasis on online client onboarding and digitization across various functions. 6. Corporate Social Responsibility: - CSR initiatives include financial aid for cancer treatment, providing accommodation to cancer patients, and supporting education and nutrition for underprivileged children. Result PDF