HDFC AMC Q4 results show a rise in net profit to ₹541 crore, with the company’s revenue climbing to ₹695.4 crore.
HDFC Asset Management Company (AMC) released its Q4 results, revealing a 43.8% increase in standalone net profit to ₹541 crore and a 28.5% year-on-year rise in revenue to ₹695.43 crore, compared to ₹540.95 crore in the previous period.
Additionally, the AMC announced a final dividend of ₹70 per share of Rs. 5/- each, subject to shareholder approval at the Annual General Meeting.
In its filing with the BSE on Friday, April 19, HDFC AMC stated, “Further, the Board of Directors in the said meeting has recommended a dividend of Rs. 70/- per equity share of Rs. 5/- each of the Company, for the financial year ended March 31, 2024, subject to approval of shareholders at the ensuing Annual General Meeting. The dividend if approved by the shareholders, will be dispatched / remitted commencing from the day after the ensuing Annual General Meeting.”
Key takeaways from HDFC AMC’s Q4 include a 33% increase in total standalone income to ₹851 crore compared to ₹638 crore in the year-ago period. The net consolidated profit attributable to shareholders for FY24 rose by 36.48% to ₹1942.69 crore from ₹1423.37 crore in FY23.
The company’s earnings per equity share surged to ₹25.35 (basic) for Q4 FY24 from ₹17.63 in Q4 FY23, while the annual earnings per equity share increased to ₹91.15 in FY24 from ₹66.75 in FY23.
HDFC AMC shares closed 1.73% lower at ₹3707.15 per share on BSE on Friday, with the company’s market capitalization standing at ₹79,141.72 crore.
