HDFC Asset Management Company (AMC) witnessed a surge of over 5 percent in its shares on October 13. This surge followed a positive adjustment in earnings growth estimates by analysts, following the release of robust September quarter results.
For Q4FY24, HDFC AMC reported a consolidated net profit of Rs 436.52 crore, reflecting a substantial 20 percent year-on-year (YoY) growth from Rs 364.5 crore in the corresponding period of the previous year. Moreover, the company’s revenue from operations saw a commendable surge, reaching Rs 643 crore, marking an 18 percent YoY increase from Rs 574.54 crore in the previous fiscal quarter.
Notably, the company’s active equity market share saw a notable uptick, reaching 12.4 percent. This represents a 90 basis points (bps) increase in comparison to the previous year and a 30 bps rise on a quarter-on-quarter (QoQ) basis.
As of 12:36 PM, the company’s shares were trading at ₹2887.50, reflecting a significant 4.79% increase.
