Q2 results: Anand Rathi Wealth’s profit up 34%, HDFC AMC profit rises 20%

Anand Rathi Wealth reported 34% year-on-year growth in net profit at Rs 58 crore in the second quarter (Q2). Total revenue jumped 37 percent to Rs 189 crore. The company said net inflows of its equity mutual funds rose 14 percent to Rs 1,870 crore during the period. This led to an increase in the share of equity funds in its total assets under management from 48% at the end of the second quarter of 2023 to 50% at the end of the second quarter of 2024, the company said.

HDFC AMC Q2 profit rose 20% to Rs 437 crore

Asset management company HDFC (AMC) on Thursday reported a 20% rise in net profit for the second quarter (Q2). AMC reported a profit of Rs 437 crore for the quarter compared to Rs 364 crore in the same period last year (Q2 FY 2023).

The increase in profit was in line with revenue growth. AMC reported revenue from operations of Rs 643 crore for the quarter ended September. In the same period last year, the company’s revenue from operations stood at Rs 545 crore.

In a release, AMC put its market share in the mutual fund business (in terms of assets under management) at 11.2 percent. In the case of actively managed funds, the share increased to 12.4 percent.

As of September 30, MF had 13.6 million active investment accounts with 7.9 million unique investors.