HDFC Asset Management Company shares are booming on Wednesday, January 15. This came to pass after the company published its quarterly results on January 14.
HDFC’s Healthy Earnings
The earnings season is bringing about some interesting mix of numbers as companies announce the status of their quarterly performance. One of the big names that announced their quarterly results for the three-month tranche of the fiscal year that ended in December was HDFC Asset Management Company or AMC.
The company, in an exchange filing, reported that as per its consoldiated financial results, the company accrued a total profit after tax of Rs 641.36 crore.
This is greater than the profit after tax recorded for the quarter before this, ie Q2 FY25, or the second quarter of the current fiscal year. In Q2, the company saw a profit of Rs 576.61.
In the same quarter of the previous fiscal year, the AMC managed to rake in profits of Rs 487.92 crore.
When we look at the revenue side, the company accrued a total revenue of Rs 1,027.72 crore, lower than the previous quarter’s Rs 1,058.19 crore, however, higher than the previous cycle (Q3FY24) Rs 814.18 crore.
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This meant of year-on-year jump of 31.44 per cent in the company’s profit after tax.
When we look at the revenue side, the company accrued a total revenue of Rs 1,027.72 crore, lower than the previous quarter’s Rs 1,058.19 crore, however, higher than the previous cycle’s (Q3FY24) Rs 814.18 crore.
This meant a YoY spike of 29.97 per cent in total income.
HDFC Asset Management Company Ltd
The company shares appear to enjoying a good run, as it closed for trading on Tuesday, January 14 in green. The shares closed at Rs 3,899.05, with gains of Rs 64.50 or 1.68 per cent.
On Wednesday, the series of gains continued as the company shares rose in the early hours of the trading day.
After opening at Rs 3,901.85 per share, the company stock value continued to get its boost to the top, racing past the milestone of Rs 4,000 per share.
At the time of writing, the value rose to Rs 4,057.00. This came to pass after a surge of 4.97 per cent or Rs 191.95 per piece.
