HDFC AMC Q4 Results: Profit rises 10% YoY to Rs 376 crore; dividend declared at Rs 48/share

HDFC AMC's standalone net profit jumped 10% to Rs 376 crore in the fourth quarter, compared with Rs 343 crore in the same period last year.

Revenue from operations, meanwhile, rose 5% to Rs 541 crore for the quarter ended March against Rs 516 crore in the corresponding quarter of last year.

Further, the Board has recommended a dividend of Rs 48 per equity share for the financial year ended March 2023.


The recommended dividend if subject to approval of shareholders at the annual general meeting. If approved, the said dividend will be dispatched from the day after the AGM.

On a sequential basis, the profit rose by a marginal 2% from Rs 369 crore reported in the preceding December quarter. Revenue fell 3% quarter-on-quarter from Rs 559 crore in Q3FY23.

The company's total expenses during the quarter increased marginally to Rs 146 crore against Rs 138 crore in the year-ago period.

Following the results announcement, HDFC AMC stock is down 0.39% at Rs 1,774 apiece on NSE. The shares have lost about 19% this year.

In the past 12 months, HDFC AMC has paid an equity dividend amounting to Rs 42 per share, resulting in a dividend yield of 2.39%.

The Board has also approved to grant about 10.5 lakh stock options of Rs 5 each to the eligible employees of the company under the Employees Stock Option Scheme (ESOP).

According to Trendlyne data, the company has an average target price of Rs 2,272, showing an upside of 29.20% from the current levels.

Recently, markets regulator Sebi has approved the proposed change of controlling stake in HDFC AMC to HDFC Bank as part of the scheme of amalgamation.

The regulator has also advised HDFC AMC to ensure compliance with all other provisions of Sebi (Mutual Funds) regulations.