HDFC AMC Sees Profits Surge 32% in Q3 2024

HDFC Asset Management Company reported a 32% year-on-year increase in profit after tax for Q3 2024, reaching Rs 576.61 crore. The company's income grew by 38% to Rs 1,058.19 crore. For the half-year ending September 2024, PAT was Rs 1,180.37 crore, with shares rising slightly.

HDFC Asset Management Company (AMC) demonstrated robust financial performance for the quarter ending September 2024, as it revealed a 32% year-on-year rise in profit after tax (PAT), reaching Rs 576.61 crore.

Compared to the same quarter in the preceding financial year (FY24), where the PAT stood at Rs 436.52 crore, the latest figures indicate a significant boost in profitability. The company's total income also saw a remarkable increase of 38%, amounting to Rs 1,058.19 crore, up from Rs 765.35 crore in the same period last year.

For the half-year ended September 2024, HDFC AMC reported a PAT of Rs 1,180.37 crore, with a cumulative income of Rs 2,007 crore. The growth momentum was reflected in the stock market, with HDFC AMC shares trading at Rs 4533, marking a 1.11% increase on the BSE by 3 pm.

(With inputs from agencies.)