HDFC AMC's Q3 profit up 3% to Rs 369 cr, revenue rises 1.8% to Rs 560 cr

Profit for the nine months ended December 31, 2022 was flat at Rs 1,048 crore

HDFC Asset Management Company (AMC) reported a 2.7 per cent year-on-year (YoY) growth in profit at Rs 369.4 crore for the December quarter of FY 2023. Revenue from operations rose 1.8 per cent YoY to Rs 559.56 crore during the period.

In a press release, the company stated that its quarterly average assets under management (QAAUM) stood at Rs 4.4 trillion for the period under review. "As of December 31, 2022, 66 per cent of the company’s total monthly average AUM is contributed by individual investors compared to 58 per cent for the industry," the company said.

Profit for the