HDFC Asset Management Company reported a strong financial performance for the third quarter, delivering healthy year-on-year growth across key metrics and exceeding market expectations on both profit and revenue fronts.
For Q3, HDFCAMC posted a net profit of ₹769 crore, marking a 19.8% increase compared to ₹642.3 crore recorded in the same quarter last year. The profit performance came in ahead of the CNBC-TV18 poll estimate of ₹730 crore, reflecting better-than-expected earnings during the quarter.
Revenue from operations stood at ₹1,075 crore, registering a 15% year-on-year growth over ₹934 crore in Q3 of the previous financial year. The topline also surpassed street expectations, with the reported figure exceeding the CNBC-TV18 poll estimate of ₹1,068 crore.
Following the earnings announcement, HDFCAMC shares reacted positively in the market. The stock was trading at ₹2,546.00, up ₹60.30 or 2.43%, reflecting investor confidence in the company’s financial performance and earnings visibility.
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