HDFC Asset Management (HDFC AMC) reported 2% QoQ growth in EBITDA driven by stable operating revenues yields (50.3bps in Q3FY23 vs 50.8/50.2bps in Q1/Q2FY23) on the back of higher equity mix. Company has fared well in terms of: (1) fund performance, (2) improvement in flow market share and equity AAUM market share.