KFin Technologies Limited reported its financial results for the quarter ended June 30, 2023, with positive growth in various key metrics. The company’s revenue from operations reached ₹1,815.0 million, showing a YoY increase of 7.6%. The EBITDA stood at ₹704.3 million, marking a 12.8% YoY growth, and the EBITDA margin for Q1FY24 improved to 38.8% from 37.0% in Q1FY23. The PAT also showed a substantial YoY growth of 15.9% to reach ₹433.8 million, with a PAT margin of 23.9% in Q1FY24 compared to 22.2% in Q1FY23. The diluted EPS rose by 13.3% YoY, amounting to ₹2.51.
KFin Technologies Limited reported its financial results for the quarter ended June 30, 2023, with positive growth in various key metrics. The company’s revenue from operations reached ₹1,815.0 million, showing a YoY increase of 7.6%. The EBITDA stood at ₹704.3 million, marking a 12.8% YoY growth, and the EBITDA margin for Q1FY24 improved to 38.8% from 37.0% in Q1FY23. The PAT also showed a substantial YoY growth of 15.9% to reach ₹433.8 million, with a PAT margin of 23.9% in Q1FY24 compared to 22.2% in Q1FY23. The diluted EPS rose by 13.3% YoY, amounting to ₹2.51.
As of June 30, 2023, the company had cash and cash equivalents of ₹3,197.6 million. Non-domestic mutual fund revenue accounted for 29% of the overall revenue in Q1FY24. In terms of business highlights, KFin Technologies experienced overall AAUM growth of 14.5% YoY, outperforming the industry’s growth rate of 14.2%, and attained a market share of 31.3%. The equity AAUM also increased by 15.5% YoY, with a market share of 34.4%. Notably, the company successfully added 158 new corporate clients under issuer solutions and managed 4 out of 7 mainboard IPOs during the quarter, resulting in a market share of 46.5% in NSE 500 companies.
As of June 30, 2023, the company had cash and cash equivalents of ₹3,197.6 million. Non-domestic mutual fund revenue accounted for 29% of the overall revenue in Q1FY24. In terms of business highlights, KFin Technologies experienced overall AAUM growth of 14.5% YoY, outperforming the industry’s growth rate of 14.2%, and attained a market share of 31.3%. The equity AAUM also increased by 15.5% YoY, with a market share of 34.4%. Notably, the company successfully added 158 new corporate clients under issuer solutions and managed 4 out of 7 mainboard IPOs during the quarter, resulting in a market share of 46.5% in NSE 500 companies.
During Q1FY24, KFin Technologies accomplished significant milestones, such as being appointed as the RTA for Jio Financial Services Limited and securing RTA mandates from new clients in Malaysia and Singapore. The company also won 28 new funds from an existing client in the Philippines for RTA services and onboarded 5 new clients in Gift City, India. Additionally, KFin Technologies secured its maiden fund administration contract in Thailand in July 2023. The company’s alternate funds reached a count of 416, capturing a market share of 36.4%. The NPS subscriber base showed strong growth, reaching approximately 1.00 million, with a YoY increase of 24.1%, surpassing the industry’s YoY growth of 12.9%.
During Q1FY24, KFin Technologies accomplished significant milestones, such as being appointed as the RTA for Jio Financial Services Limited and securing RTA mandates from new clients in Malaysia and Singapore. The company also won 28 new funds from an existing client in the Philippines for RTA services and onboarded 5 new clients in Gift City, India. Additionally, KFin Technologies secured its maiden fund administration contract in Thailand in July 2023. The company’s alternate funds reached a count of 416, capturing a market share of 36.4%. The NPS subscriber base showed strong growth, reaching approximately 1.00 million, with a YoY increase of 24.1%, surpassing the industry’s YoY growth of 12.9%.
Commenting on the company’s performance, Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited said, “We continue to execute our business plans with strong and definitive focus on building a diversified global fund administrator. Our growth continues to be a secular one with strong performance across business lines aiding a better first quarter, weighed against our estimations, in terms of sales, revenue, and margin delivery. With an excellent sales performance in the first quarter and a strong pipeline, we are confident of yielding better performance from all the business lines especially from the younger and faster growing segments as we move into the subsequent quarters. Our recent wins in Canada, Singapore and Thailand are testimony to our technology platform finesse and strong business development efforts to position KFin tech as a global fund administrator from India.”
Commenting on the company’s performance, Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited said, “We continue to execute our business plans with strong and definitive focus on building a diversified global fund administrator. Our growth continues to be a secular one with strong performance across business lines aiding a better first quarter, weighed against our estimations, in terms of sales, revenue, and margin delivery. With an excellent sales performance in the first quarter and a strong pipeline, we are confident of yielding better performance from all the business lines especially from the younger and faster growing segments as we move into the subsequent quarters. Our recent wins in Canada, Singapore and Thailand are testimony to our technology platform finesse and strong business development efforts to position KFin tech as a global fund administrator from India.”
“KFin tech is a technology-led platform-based company and we are committed to use frugal and agile engineering to build innovative solutions for global asset managers by running an efficient and optimized operation.” He added.
“KFin tech is a technology-led platform-based company and we are committed to use frugal and agile engineering to build innovative solutions for global asset managers by running an efficient and optimized operation.” He added.
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