KFin Technologies posts ₹66.83 crore PAT for Q3, up 25% on year
KFin Technologies posted a net profit of ₹66.83 crore in the third quarter of FY24, up 25.2 per cent on year. Revenue from operations grew 16.3 per cent y-o-y to ₹218.72 crore. Revenue from international and other investor solutions businesses grew 28.2 per cent.
Average AUM (AAUM) for the quarter was up 22.7 per cent, slightly higher than 22.2 per cent of the industry, leading to a market share of 31.8 per cent as of December 2023. Equity AAUM grew 24.2 per cent, slower than 29.8 per cent of the industry, resulting in a market share of 33.5 per cent.
The company, promoted by global private equity player General Atlantic Singapore Fund, added 170 new corporate clients and 50 lakh investor folios under issuer solutions. The number of international clients increased to 54.
Number of alternate funds stood at 455, wherein AAUM grew 54 per cent on year to ₹91,000 crore taking the company’s market share to 36.4 per cent in the segment.
“We are excited to deliver yet another quarter of strong performance in terms of growth as well as profitability driven by strong focus on execution across our diversified business segments, said MD and CEO Sreekanth Nadella. “We have a strong pipeline of deals in the international markets which we believe will propel our overall growth,” he added.
With the launch of the industry-first platform XAlt, KFintech said it aims to set new standards in the global fund administration space to offer a fully automated system to global alternate asset managers.
KFin Technologies is a technology-driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem, including asset managers and corporate issuers across asset classes. It provides several investor solutions, including transaction origination and processing for mutual funds and private retirement schemes to asset managers in Malaysia, the Philippines, Singapore, Hong Kong, and Canada. In India, KFintech is the largest investor solutions provider to Indian mutual funds, based on the number of AMCs serviced as of September 2023, and the largest issuer solutions provider based on the number of clients serviced.
It is the only investor and issuer solutions provider in India that offers services to asset managers such as mutual funds, alternative investment funds, wealth managers, and pension, as well as corporate issuers. It is also one of the three operating central record-keeping agencies for the National Pension System in India.