HDFC Asset Management Company Limited (HDFC AMC) on Tuesday (October 15) released its financial results for the second quarter and half-year ending September 30, 2024. The company's Board of Directors approved the unaudited standalone and consolidated results during a meeting on October 15, 2024, the company announced through an exchange filing.
Standalone Financial Results
In the standalone results, HDFC AMC reported a growth in total income, reaching Rs 1,057.82 crore in Q2FY25, compared to Rs 765.22 crore in the same quarter last year.
The total expenses for the quarter stood at Rs 199.14 crore, a slight increase from Rs 176.09 crore year-over-year.
Furthermore, the profit after tax (PAT) surged to Rs 576.88 crore, up from Rs 437.56 crore in the previous year.
Consolidated Financial Results
For the quarter, in the consolidated basis, the company posted a total income of Rs 1,058.19 crore, higher than Rs 765.35 crore year-over-year.
Furthermore, in comparison to the same period previous year, the reported a surge its expenses to Rs 199.78 crore. In the same period previous year, it stood at Rs 177.26 crore.
Despite the rise in expenses, the profit after tax (PAT) remained at Rs 576.61 crore, compared to Rs 436.52 crore in the previous year.
"During the quarter ended September 30, 2024, the Company has allotted 37,610 equity shares of Rs 5 each pursuant to exercise of stock options by certain employees," added the company in the exchange filing.
Furthermore, the company in the BSE filing added, "During the period ended September 30, 2024, the Company had declared and paid an interim dividend of Rs 70 per equity share (face value of Rs 5 each) for the year ended March 31, 2024 as approved by its Board of Directors at the meeting held on June 07, 2024 instead of the final dividend as proposed earlier on April 19, 2024. The same has also been confirmed by the Shareholders of the Company at the Annual General Meeting held on July 25, 2024."
Stock performance
The shares of HDFC AMC on Tuesday at 3:30 pm IST closed at Rs 4,560.00 each, marking a gain of 1.74 per cent.
