Results reported 15 October 2026 | Asset management | Consolidated
The Quick Take
HDFC AMC’s Q2 FY27 net profit was Rs 749 cr, up 4% year on year and down 10.5% quarter on quarter. Adjusted for a one-time tax reversal in the year-ago quarter, profit grew about 12%. Revenue from operations rose about 14% to around Rs 1,169 cr on AUM growth.
Q2 FY27 snapshot (Rs crore)
| Metric | Q2 FY27 | Comparison |
|---|---|---|
| Revenue from operations | ~1,169 | +14% YoY |
| Total income | ~1,240 | +11% YoY |
| Net profit | 749 | +4% YoY; -10.5% QoQ (Q1: 837) |
| EBITDA (margin) | 931.1 (79.65%) | Q1: 850.4 (77.3%) |
- Core operating profit Rs 906.9 cr, up 16% YoY.
- H1 FY27 PAT Rs 1,588 cr (+8%); H1 revenue from operations Rs 2,267 cr (+14%).
- Average AUM Rs 9.69 lakh cr (+10% YoY); equity-oriented funds 67.1% of AUM; SIP AUM Rs 2.34 lakh cr.
Management commentary
No numeric guidance. Management plans to launch specialised investment funds, contra and life-cycle funds, and continue investing even if near-term margins are pressured. Employee costs rose 14% in Q2 (22% in H1).
Risks
- Market volatility and flows.
- Competition from new AMCs.
- Yield pressure and equity concentration.
- Investment-led margin pressure.
Setup
Neutral. Operating performance is solid. Reported profit optics are affected by the tax base and lower other income.
This is educational analysis, not personalized investment advice. Do your own research before investing.
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