HDFC Asset Management Company reported 9% rise in net profit to Rs 343.5 crore on a 3% increase in revenue from operations to Rs 516.3 crore in Q4 FY22 over Q4 FY21.
Total expenses rose by 13% to Rs 138.3 crore in Q4 FY22 from Rs 122.7 crore in Q4 FY21, due to higher employee benefit expenses (up 12% YoY) and higher other expenses (up 21% YoY).
The AMC said that in Q4 FY22, employee benefit expenses include a non-cash charge of Rs 11.7 crore (Rs 7.3 crore in Q4 FY21) towards the amortized cost of outstanding employee stock options.
The increase in other expenses is mainly on account of an increase in new fund launch expense, business promotion expense, technology spend, and CSR expense, it added.
Profit before tax in Q4 FY22 stood at Rs 442.6 crore, up by 5% from Rs 422.8 crore in Q4 FY21. Tax outgo during the quarter declined by 7% YoY to Rs 99.1 crore.
The company's QAAUM was Rs 4,32,100 crore as of 31 March 2022 compared to Rs 4,15,600 crore as of 31 March 2021, a growth of 4%. 11.3% market share in QAAUM of the mutual fund industry.
QAAUM in actively managed equity-oriented funds i.e. equity oriented QAAUM excluding index funds stood at Rs 1,98,000 crore as on 31 March 2022 with a market share of 11.5%.
The ratio of equity-oriented AUM and non-equity-oriented AUM is 51:49 compared to the industry ratio of 48:52 as of 31 March 2022.
As of 31 March 2022, 62.4% of the company's total monthly average AUM is contributed by individual investors compared to 55.2% for the industry.
HDFC AMC recorded 5% increase in net profit to Rs 1,393.1 crore on a 14% rise in revenue from operations to Rs 2,115.4 crore in FY22 over FY21.
The board of directors of the asset manager has recommended a dividend of Rs 42 per share for the financial year ended 31 March 2022.
HDFC Asset Management Company (HDFC AMC) is the investment manager of HDFC Mutual Fund, one of the largest mutual funds in the country. The AMC has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors, and national distributors.
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