HDFC AMC Q2 Results Show Profit Down but Core Revenue Up 6 Percent
HDFC AMC’s Q2 profit fell 10.5% QoQ to ₹749 crore as other income dropped, but core revenue rose 6.3% and margins hit 79.65%. Why the stock jumped 5%.
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“HDFC AMC Q2 Results Show Profit Down but Core Revenue Up 6 Percent”
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15 Oct 2026
Key Highlights
- Profit: Net profit fell 10.5% quarter-on-quarter to ₹749 crore.
- Core business grew: Revenue from operations rose 6.3% to ₹1,169 crore.
- The real reason: Other income, largely from the company’s own investments, fell sharply.
- Margins: EBITDA margin expanded to 79.65% from 77.3%.
- Stock: Rose about 5% to ₹2,406.5; down about 8.5% this year.
HDFC Asset Management Company reported a net profit of ₹749 crore for the September quarter (Q2 FY27), down 10.5% from ₹837 crore in the June quarter. Total income also fell 9% to ₹1,241 crore.
Yet investors cheered. HDFC AMC shares rose about 5% to ₹2,406.5 on Thursday after the results.
The Numbers
| Metric | Q2 FY27 | Q1 FY27 | Change |
|---|---|---|---|
| Revenue from operations | ₹1,169 cr | ₹1,099.7 cr | +6.3% |
| Total income | ₹1,241 cr | ₹1,363 cr | −9% |
| Other income* | ~₹72 cr | ~₹263 cr | ~−73% |
| EBITDA | ₹931.1 cr | ₹850.4 cr | +9.5% |
| EBITDA margin | 79.65% | 77.3% | +235 bps |
| Net profit | ₹749 cr | ₹837 cr | −10.5% |
*Calculated as total income minus revenue from operations.
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