HDFC AMC Q1 Review - Market Appreciation Lifts Earnings: Nirmal Bang
Indian two thousand and five hundered rupee notes arranged for photogaph. (Photographer: Dhiraj Singh/Bloomberg)

HDFC AMC Q1 Review - Market Appreciation Lifts Earnings: Nirmal Bang

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 an in-line performance for Q1 FY22, with revenue and profit after tax coming in 1% and 4% higher than our estimates, respectively.

Revenue growth was strong at 23% YoY, driven by 17% YoY growth in assets under management along with higher equity contribution at 42.6% as of June 2021 compared to 37% as of June 2020.

With cumulative mutual fund industry-level net flows being negative over the preceding 12 months, the increase in equity contribution came on the back of a robust market performance, thus providing fillip to HDFC AMC’s revenue.

We keep our AUM growth assumption unchanged at 12% per annum over FY22-23E.

Click on the attachment to read the full report:

Nirmal Bang HDFC AMC- Q1FY22 Result Update- 18 July 2021 .pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.