Other financial services company Prudent Corporate Advisory Services announced Q3FY23 results: Q3FY23 & 9MFY23: Equity AUM on Dec 22 at Rs 52,593 crore, up by 18.1% YoY Revenue for 9MFY23 at Rs 434.4 crore, up by 35.2% YoY and for Q3FY23 at Rs 158.3 crore, up by 25.9% YoY EBITDA for 9MFY23 at Rs 114.8 crore, up by 41.0% YoY EBITDA Margins are higher by 109 bps for 9MFY23. PAT at Rs 75.5 crore for 9MFY23, up by 30.9% YoY and for Q3FY23 at Rs 28.5 crore, up by 27.8% YoY. Mr. Sanjay Shah, Chairman and Managing Director, commented on the results and said, "The 9 months of FY2023 and Q3FY23 has been another period where Prudent has witnessed substantial and consistent growth in revenue and profitability. Healthy cash flows enabled the acquisition of the Mutual Fund AUM of iFast Financial Pvt Ltd. This has been perennial part of our growth strategy, wherein we are focussed on both Organic as well as Inorganic growth". Talking about nine months ended of the current fiscal, Mr. Sanjay Shah added, "The first nine months of FY2023 has been promising, with revenue up by 35.2% to Rs 434.4 crore. At the same time, profit after tax (PAT) is up by 30.9% YoY to Rs 75.5 crore. We are steadily growing our market share, with more than 14.95 lakh clients under our belt as of December 2022. Along with profitability, our ability to generate strong free cash flows is bolstering our capacity to move forward rapidly and confidently. We anticipate a higher inflow of funds and a steady rise in our AUM in the upcoming quarters due to the economy's broad-based recovery. Our MF Assets are growing at double the rate of the industry on the back of our organic and inorganic strengths." CEO & Whole-time Director, Mr. Shirish Patel, commented: "We are delighted to see Prudent Corporate Advisory Services now get ranked as the second-largest non-banking Mutual Fund Distributor based on Commissions Earned, thanks to the efforts of our channel partners and our team. As per the CAMS December 2022 ranking, we are now the 3rd largest in total AUM in retail and 5th largest in total folios. Thanks to our highly scalable, asset-light, and cash generative business model, we have shown a consistent record of accomplishment in delivering profitable growth.” Result PDF