HDFC Asset Management Company (HDFCAMC) Q3 24/25 earnings summary

Executive summary

• Industry AUM grew 32%–39% YoY to INR 66.9 trillion by December 2023, with equity funds up 40%–51% YoY to INR 39.3 trillion.

• Closing AUM reached ₹7,764 bn as of December 31, 2024, with a 35% YoY growth and 1% sequential increase.

• Net new equity flows for the quarter were INR 1,573 billion; SIP monthly flows hit a record INR 265 billion in December 2024.

• Unique investor count rose 45% YoY to 12.6 million; 25 new offices opened, mainly in B30 cities, bringing total to 280 branches.

• 95% of transactions are now processed digitally, up from 69% in FY20; unique investor logins up 28% YoY.

Financial highlights

• Revenue from operations for Q3 FY25 was ₹9,343 mm, up 39% YoY and 5% sequentially.

• Operating profit grew 51% YoY to ₹7,472 mm in Q3 FY25.

• Profit after tax rose 31% YoY to ₹6,415 mm in Q3 FY25.

• Total income for 9M FY25 was ₹30,333 mm, up 31% YoY; PAT was ₹18,223 mm, up 30% YoY.

• Return on equity for FY24 was 29.5%; interim dividend of ₹70/share paid in FY25.

Outlook and guidance

• Management remains optimistic about long-term industry growth, citing underpenetration, digital engagement, and investor education.

• Awaiting final SEBI regulations for new product categories; confident in ability to launch competitive offerings.

• No specific guidance on employee expense growth, but cost increases are expected to be prudent and aligned with business needs.

• Emphasis on ESG integration and sustainable growth.