Earnings Review
HDFC AMC Q3 PAT rises 20% on year, beats Street's estimate
This story was originally published at 18:20 IST on 14 January 2026
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--HDFC AMC Oct-Dec net profit INR 7.70 bln
--Analysts saw HDFC AMC Oct-Dec net profit at INR 7.24 bln
--HDFC AMC Oct-Dec revenue INR 10.74 bln
--Analysts saw HDFC AMC Oct-Dec revenue at INR 10.61 bln
--HDFC AMC Oct-Dec net profit INR 7.70 bln vs INR 6.41 bln year ago
--HDFC AMC Oct-Dec revenue INR 10.74 bln vs INR 9.34 bln year ago
--HDFC AMC Oct-Dec total expenses INR 2.19 bln vs INR 1.87 bln year ago
--HDFC AMC Apr-Dec net profit INR 22.36 bln vs INR 18.22 bln year ago
--HDFC AMC Apr-Dec revenue INR 30.68 bln vs INR 25.97 bln year ago
--HDFC AMC: Equity closing AUM INR 5.76 tln as on Dec 31, up 20% YoY
--HDFC AMC: Debt closing AUM INR 1.79 tln as on Dec 31, up 15% on yr
--HDFC AMC: Liquid closing AUM INR 684 bln as on Dec 31, down 11% YoY
--HDFC AMC: AUM INR 9.21 tln as on Dec 31, up 19% on year
--HDFC AMC: Market share at 11.5% as on Dec 31 vs 11.6% year ago
--HDFC AMC: SIP AUM at INR 2.21 tln as on Dec 31
By Meera Nair
MUMBAI – HDFC Asset Management Co. Ltd. reported a 20% on-year growth in the net profit for the December quarter to INR 7.70 billion, beating the Street's estimate for the third quarter in a row. The net profit growth was because of strong growth in assets under management and rise in service fee income. Analysts had expected HDFC AMC's net profit to rise 13% on year to INR 7.24 billion.
The asset management company's revenue from operations for the quarter rose almost 15% year-on-year to INR 10.74 billion. On a trailing basis, the net profit was up over 7% and revenue up 4.7%. The company's assets under management rose 19% on year to INR 9.21 trillion as on Dec. 31. Contribution from direct channels accounted for 43.7% of the total assets under management against 27% a year ago. The share of contribution to total assets under management from mutual fund distributors fell to 24.4% from 34.4% a year ago.
Higher equity market levels and steady net inflows, particularly into equity-oriented schemes, supported the expansion in assets under management, leading to rise in management fee revenues. At the same time, operating expenses remained well under control, resulting in operating leverage benefits. Moreover, lower one-off costs and stable commission payouts helped protect margins and bottom line.
The fund house's tax outgo for the quarter was more than 23% higher on year at INR 2.45 billion. Sequentially, it was up 55.2%.
The fund's total expenses for the Oct-Dec were INR 2.19 billion against INR 1.87 billion year ago. Finance costs rose 50% on year to INR 33.6 billion while employee benefits expenses were up by almost 30% at INR 1.23 billion.
The net profit for the nine months ended December was INR 22.36 billion, up from INR 18.22 billion a year ago. Revenue for the nine-month period was INR 30.68 billion, up from INR 25.97 billion year ago.
Assets under management under equity schemes for the December quarter was INR 5.76 trillion, up 20% on year. The AUM under debt funds was INR 1.79 trillion as on Dec. 31, up 15% on year. AUM under liquid funds for the quarter was INR 684 billion as on Dec. 31, down 11% on year. The AUM under systematic investment plans for the quarter was INR 2.21 trillion as on Dec. 31. HDFC AMC's market share as on Dec. 31 was 11.5% against 11.6% a year ago.
On the National Stock Exchange, shares of HDFC AMC Wednesday closed at INR 2,554.10, down nearly 3% from the previous day. End
Edited by Ashish Shirke
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