Kfin Technologies reports impressive Q1 results with robust growth in revenue and market share

livemint.com:

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. 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.