Centrum Broking: HDFC AMC Q2 Review - Revenue Miss Offset By Other Income
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Centrum Broking Report
HDFC Asset Management Company Ltd. Q2 FY21 earnings were a beat on profit after tax mainly led by other income.
Revenue was a miss while operating expenses were in-line leading to a profit after tax at Rs 3.4 billion (our estimate Rs 3.2 billion).
Futhering its objective to diversify fund management strategies for reducing performance volatility in equity schemes across cycles, HDFC AMC is looking to hire 12 more fund managers after already hiring two managers.
Also, in the coming months it plans to launch new products on the equity side.
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