KFin Technologies’ net profit for Q4 FY24 rose 30.6 per cent on year to ₹74.47 crore led by 24.7 per cent increase in revenue from operations to ₹228.34 crore.

Average AUM grew 35.5 per cent on year, higher than 33.6 per cent growth for the sector. Average equity AUM was up 43.2 per cent on year, compared with 48.2 per cent for the industry. The company had an overall market share of 32.1 per cent and equity market share of 33.4 per cent as of March 2024.

During the quarter, KFin Tech added 2,082 new corporate clients and 60 lakh investor folios under issuer solutions. It won the RTA mandate for Vishal Mega Mart Ltd, taking its market share among NSE 500 companies to 46.1 per cent.

Number of international clients increased to 574, with the company winning an RTA contract from an existing client in Hong Kong. The number of alternate funds for the company stood at 4,724, seeing AUM growth of 60.6 per cent on year to ₹98,700 crore taking its market share to 36.3 per cent.

“The year witnessed a notable uptick in our new client wins and international market engagements, underpinned by a swelling pipeline of deals. This bodes well for our sustained growth trajectory and reaffirms our commitment to become a global fund administrator to service the burgeoning landscape of asset management industry, both in India and globally,” MD and CEO Sreekanth Nadella said.

The fintech company also won its maiden multi-year fund administration platform deal from one of the largest custodians in India, a deal from a large NBFC for wealth technology platform, a first datalake deal from a non-KFintech AMC client, and another from an AMC client for development of digital assets. It also won contracts from Big 4 accounting firms for Guardian insider trading platform and developed the SUPTECH platform for Alerts, Reports & Analytics for SEBI (P.A.R.A.S).

Its NPS subscriber base grew 27.7 per cent to 12.2 lakh, higher than the industry growth of 12.1 per cent. Market share in overall subscribers’ base at 8.3 per cent as on March 2024, up from 7.3 per cent a year ago.

Related Topics
comment COMMENT NOW