Prudent Corporate Advisory Q2 Results: Profit up 69% YoY to Rs 51 cr, revenue grows by 51%
Prudent Corporate Advisory Services reported a 51% year-on-year (YoY) increase in revenue from operations, reaching Rs 286 crore for quarter ended September 2024, driven by a 53% rise in quarterly average AUM in mutual funds and a 36% growth in non-mutual fund revenue.
Operating profit rose 59% YoY to Rs 68.7 crore, while profit after tax jumped 69% YoY to Rs 51.5 crore, buoyed by operational gains and higher treasury income. The company’s SIP book grew by 47% YoY in September, reaching Rs 874 crore, with a 3.6% market share in SIP flows.
Sanjay Shah, Managing Director of Prudent Group, noted, “Mutual fund adoption is accelerating, reflected in our numbers. Our net equity sales reached Rs 5,700 crore in H1 FY25, nearly 93% of total sales achieved in FY24. As India’s per capita income is projected to grow tenfold over the next 25 years, Prudent has a vast growth runway ahead.”
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