AUM tailwinds lead to strong EBITDA growth; sustainability of performance amidst AUM growth and yield decline will be a key monitorable
HDFC AMC reported 22-quarter high EBITDA of INR 4.82bn in Q2FY24 driven by 29.6% end-to-end equity AUM growth in H1FY24. Improvement in fund performance is leading to superior business metrics such as gain in equity market share, unique investor share, and gain in flow market share in equity segment across channels.