Computer Age Management Services (CAMS) reported a 21% rise in net profit to Rs 89.29 crore for the December 2023 quarter, driven by strong revenue growth and a robust mutual funds market.
New Delhi, Feb 6 (PTI) Computer Age Management Services Ltd (CAMS), registrar and transfer agent of mutual funds, on Tuesday reported 21 per cent growth in net profit at Rs 89.29 crore for three months ended December 2023.
The company had logged a net profit of Rs 73.72 crore in the same quarter of preceding financial year (FY23), CAMS said in a statement.
Revenue in the quarter under review rose 19 per cent to Rs 289.68 crore, as against Rs 243.57 crore in the year-ago period.
"Revenue growth at 19 per cent and PAT (profit after tax) growth at 21 per cent year-on-year is the culmination of robust performance across our revenue streams. Mutual funds asset growth trajectory took the overall asset base we service to historic high of Rs 34 lakh crore," company's managing director Anuj Kumar said.
CAMS is a financial infrastructure and service partner to the asset management industry and offers platform-based services to the Banking, Financial Services and Insurance (BFSI) segment.
With a market share of over 68 per cent, the company is India's largest registrar and transfer agent of mutual funds.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback