HDFC AMC Revenue For Q4FY23 Declines By 3.33% QOQ

India's largest asset management company, HDFC AMC revenue declined by 3.33 per cent to Rs 540.95 crore for the fourth quarter ended March 31, 2023 as compared to December revenue of Rs 559.56 crore. The asset management company declared its quarterly numbers on Tuesday afternoon through securities filing.

Although on quarterly basis the revenue was down, the company did witness a growth of nearly 5 per cent over previous year's revenue of Rs 516.28 crore. While the total expenses grew by 5.6 per cent within a year to Rs 146.03 crore from Rs 138.28 crore and quarter-on-quarter (QOQ) down by 9.97 per cent.

As per the press release the company has reported a healthy growth of 9.3% in profit after tax (PAT) to Rs 376 crore for Q4FY23 over same period last year's PAT of Rs 344.55 crore. However it rose mere by 1.96 against previous quarter PAT of Rs 369.35 crore.

Further the company reported that average assets under management for the quarter (QAAUM) ended March 31, 2023 came in at Rs 4,498 billion compared to Rs 4,321 billion for the quarter ended March 31, 2022. Contributing 11.1 per cent market share for the overall industry for the quarter.

HDFC AMC's market share in the overall pie stands at 12 per cent, making it India's largest actively managed equity mutual fund managers for the quarter. It has actively managed assets of Rs 2,317 trillion equity-oriented funds, excluding index funds.

The ratio of equity AUM and non-equity AUM stood at nearly 54:46, higher than industry ratio of 49:51. Meanwhile 4.53 million systematic transactions with a value of Rs 17.1 billion processed during the month of March 2023.

Total Live Accounts stood at 11.4 million as on March 31, 2023. Unique customers as identified by PAN or PEKRN now stands at 6.6 million as on March 31, 2023 compared to 37.7 million for the industry, a market share of 18%.

Yearly performance

The operating Profit of the company for the financial year ended March 31, 2023 was Rs 15,548 million as compared to Rs 15,375 million for the financial year ended March 31, 2022.

HDFC AMC reported a PAT for the financial year ended March 31, 2023 was at Rs 14,239 million as compared to Rs 13,931 million for the financial year ended March 31, 2022.

Dividend details

Lastly, for FY23, a final dividend of Rs 48 per equity share was proposed by the board on April 25, 2023 which is subject to approval by the shareholders at the ensuing Annual General Meeting. The company has a good track record of dividend payout in last five years. Last year the payout was of 64 per cent and for FY 23 it is 72 per cent.

Share price movement

The latest market price of HDFC AMC stock closed at Rs 1765. 90 per share, it was down by 0.73 per cent over previous day's closing price. Its 52-week high is at Rs 2,314 per share and 52-week low is at Rs 1,595 per share. In last one year it has fallen steeply by 11.95 per cent while in three years it has plunged drastically by 31.84 per cent.