Prudent Corporate Advisory Services announced Q2FY23 results: Q2FY23 & H1FY23: Equity AUM at Rs.49,673 crore, up by 40.5% YoY Revenue for Q2FY23 at Rs.147.6 crore, up by 39.7% YoY; for H1FY23 Rs.276 crore, up by 41.2% YoY EBITDA at Rs.40.2 crore, up by 58.4% YoY EBITDA Margins are higher by 322 bps YoY at 27.2%. PAT at Rs.27.6 crore, up by 41.1% YoY; for H1FY23 Rs.47.0 crore, up by 33.9% YoY. Mr. Sanjay Shah, Chairman and Managing Director, commented on the results, and said, "The 2nd Quarter of FY2023 has been another quarter where Prudent has witnessed substantial growth in revenue and profitability. Healthy cash flows led to the acquisition of Mutual Fund AUM of Karvy Stock Broking Limited in an all-cash deal in FY2022. On July 22, we continued our inorganic expansion by signing a term sheet to acquire MF AUM of iFast Financial India Private Limited." Talking about the first half of the current fiscal, Mr. Sanjay Shah added, "The first half of FY2023 has been promising, with revenue up by 41.2% to Rs 276 crore. At the same time, profit after tax (PAT) is up by 33.9% YoY to Rs 47.0 crore. We are steadily growing our market share, with more than 14.58 lakh clients in September 2022. Along with profitability, the strength of our cash flow generation is bolstering our capacity to proliferate moving forward. 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 strength." CEO & Whole-time Director, Mr Shirish Patel, commented: "We are delighted to announce that Prudent Corporate Advisory Services has been ranked as the second-largest non-banking Mutual Fund Distributor based on Commissions Earned thanks to the efforts of our channel partners & our team. As per CAMS September 2022 ranking, we are the 3rd largest in total AUM in retail and 5th largest in total folios. We have shown a consistent track record of profitable growth due to a highly scalable, asset-light and cash-generative business model. The cost-to-income ratio has continuously decreased to 18.9% in 1HFY23 as compared to 21.0% in the same period a year ago despite the expansion in branches to 118 in FY23 and the employee count increasing to 1122." Result PDF