BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
HDFC Asset Management Company Ltd. reported net earnings growth of 11.8% QoQ though it was still down 8.2% YoY.
Due to differential effective tax rate across the quarter, we believe that pre-tax profitability would be a better indicator of the quarter’s performance.
The company has reported a profit before tax growth of 8.3% YoY and 21.7% QoQ, which was boosted by unrealized gains of approximately Rs 560 million on Essel Group's non-convertible debentures (classified as under fair through the profit and loss).
Core operating profit was up 15.5% QoQ but down 6% YoY.
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