HDFC Asset Management Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 12, 2023 at 09:18 am
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HDFC Asset Management Company Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 6,430.8 million compared to INR 5,447.2 million a year ago. Revenue was INR 7,653.5 million compared to INR 6,489.3 million a year ago. Net income was INR 4,365.2 million compared to INR 3,638.5 million a year ago. Basic earnings per share from continuing operations was INR 20.45 compared to INR 17.06 a year ago. Diluted earnings per share from continuing operations was INR 20.44 compared to INR 17.05 a year ago.
For the six months, sales was INR 12,176.2 million compared to INR 10,663 million a year ago. Revenue was INR 14,979.7 million compared to INR 11,818.3 million a year ago. Net income was INR 9,139.3 million compared to INR 6,780.4 million a year ago. Basic earnings per share from continuing operations was INR 42.82 compared to INR 31.79 a year ago. Diluted earnings per share from continuing operations was INR 42.81 compared to INR 31.77 a year ago.
HDFC Asset Management Company Limited is a mutual fund manager. The Company is in the business of providing asset management services to HDFC Mutual Fund and alternative investment fund and portfolio management and advisory services to clients. The Company offers a comprehensive suite of savings and investment products ranging from mutual funds, including both actively managed and passive options, to portfolio management services and alternative investment opportunities catering to the needs of a diverse customer base. It offers financial management services, financial advisory, brokerage, and consulting services. It has a network of 228 investor service centers (ISCs) across more than 200 cities. The Company offers portfolio management services and separately managed account (SMA) services to meet the investment needs of its clients, including high net worth individuals (HNIs), family offices, domestic corporates, trusts, provident funds, and domestic and global institutions.