HDFC Asset Management Company (HDFCAMC) Q2 24/25 earnings summary

Executive summary

• Industry AUM reached INR 67 trillion, with unique investors at 50 million and folio accounts at 210 million, reflecting robust growth over three years.

• QAAUM reached ₹7,588 billion (INR 7.7 trillion), a 45% increase year-over-year, with a market share of 11.5% and equity-oriented funds comprising 65.7% of AUM.

• Net profit for Q2 FY25 rose 32% year-over-year to ₹5,769 million, with revenue from operations up 38% to ₹8,873 million and operating profit up 47% to ₹6,881 million.

• The company remains a top choice for individual investors, holding a 13.2% market share in individual monthly average AUM.

• Systematic transactions exceeded 10 million, with SIP contributions at record highs.

Financial highlights

• Total income for the quarter was INR 1,057.9 million; revenue from operations grew 38% YOY to INR 887.3 million.

• Operating profit increased 47% YOY to INR 688.1 million; PAT stood at INR 576.9 million.

• For H1 FY25, operating profit was ₹12,674 million, profit before tax ₹16,111 million, and profit after tax ₹11,808 million, all showing strong double-digit growth.

• Operating margin for Q2 FY25 stood at 36 bps of AAUM.

• Basic EPS (standalone) for Q2 FY25: ₹27.01, up from ₹20.50 in Q2 FY24.

Outlook and guidance

• Flow market share remains higher than book market share, with expectations to continue building on this momentum.

• Management highlights continued leadership in actively managed equity funds and strong digital engagement, with 60% YoY growth in investor logins.

• Focus remains on expanding distribution, digital platforms, and ESG integration.

• Equity margins are expected to keep sliding with rising AUM, but the pace of decline has been softened by recent rationalization.

• Anticipates continued growth in systematic investment plans and alternative business expansion.