Healthy inflows in MF schemes result in 69% profit growth for Prudent Corporate Advisory in Q2

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Prudent Corporate Advisory Services, one of the mutual fund distributors, has registered a 69 per cent increase in September quarter net profit at ₹51 crore against ₹30 crore logged in the same period last year on the back of healthy inflows in mutual fund schemes.

Revenue was up 51 per cent at ₹286 crore (₹190 crore), driven by a 53 per cent rise in the quarterly average AUM in the mutual fund segment and 36 per cent growth in revenues from non-mutual fund products.

The AUM of Prudent touched a high of ₹1.07 lakh crore, registering an increase of 55 per cent compared with last year.

The AUM growth was fuelled by mark-to-market gains of ₹28,619 crore as markets saw a strong broad-based rally, it said.

The Systematic Investment Plan book grew 47 per cent y-on-y last quarter to ₹874 crore and accounted for 3.6 per cent of the industry’s number.

5 crore MFs

Sanjay Shah, Managing Director, Prudent Group, said the unique mutual fund investor count for the industry crossed five crore last month and the monthly addition was above 10 lakh.

In the first half of FY25, net equity sales reached ₹5,700 crore, amounting to nearly 93 per cent of the total net sales achieved in whole of FY24.

“Prudent will have a huge growth leeway in this phase of Amrit kaal, wherein per capita income is set to grow 10 times in the next 25 years,” he said.