HDFC Asset Management Company (HDFCAMC) Q4 16/17 earnings summary

Executive summary

• FY17 net profit rose to ₹550.25 crore from ₹477.88 crore; net worth reached ₹1,416.90 crore at March 31, 2017, versus ₹1,144.35 crore a year earlier.

• Mutual Fund average AUM increased over 25% to ₹2,16,151.01 crore; HDFC Mutual Fund managed 61.92 lakh accounts across 202 schemes.

Financial highlights

• Revenue from operations was ₹1,480.04 crore versus ₹1,442.54 crore; total revenue was ₹1,587.91 crore versus ₹1,494.34 crore.

• Profit before tax was ₹799.80 crore versus ₹708.25 crore; profit after tax was ₹550.25 crore versus ₹477.88 crore.

• Total expenses were ₹788.11 crore versus ₹786.09 crore; employee benefits expense rose to ₹157.55 crore from ₹143.19 crore.

• Other income was ₹107.88 crore versus ₹51.80 crore, including ₹60.18 crore net profit on sale of current investments and a ₹15 crore reversal of contingency provisions.

Segment performance

• Mutual Fund management fee revenue was ₹1,428.45 crore versus ₹1,209.74 crore; Portfolio Management and other advisory revenue was ₹51.58 crore versus ₹232.81 crore.

• Average Mutual Fund AUM rose to ₹2,16,151.01 crore from ₹1,72,643.19 crore, an increase of over 25%; PMS assets under management/advisory were ₹1,574.68 crore at year-end.

• The portfolio comprised 202 schemes across equity, debt, ETFs, fixed maturity plans and interval funds; 20 fixed maturity plans mobilized ₹3,650 crore.