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ICICI Direct Report
HDFC Asset Management Company Ltd. reported a mixed quarter.
Assets under management up 23% YoY, 4.1% QoQ to Rs 4.35 lakh crore, equity AUM up 7.7% QoQ.
Revenue from operations up 6.9% QoQ to Rs 542 crore; yields up 2 basis points QoQ.
Profit after tax remained flat QoQ (1.9% YoY) to Rs 344 crore, primarily led by lower other income at Rs 66 crore.
The company continued focus on technology, travel expenses as normalisation is achieved could mean increase in operational cost ahead.
Launch of new schemes and focus on digitisation is seen enabling gaining of market share.
HDFC AMC to continue to focus on active fund management and focus on adding value for investors.
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