Nirmal Bang: HDFC AMC - Q2 Earnings Lifted By Other Income; See Weak Flows In Near Term
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Nirmal Bang: HDFC AMC - Q2 Earnings Lifted By Other Income; See Weak Flows In Near Term

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 value through the profit and loss).

Core operating profit was up 15.5% QoQ but down 6% YoY.

Click on the attachment to read the full report:

Nirmal Bang HDFC AMC- Q2 FY21 Result Update- 23 October 2020.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 brokerage and do not represent the views of BloombergQuint.

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