Financial Services company KFIN Technologies announced Q2FY24 & H1FY24 results: Q2FY24 Financial Performance: - Revenue from operations increased by 16.0% YoY to Rs 2,089.7 million in Q2FY24. - Total income rose by 17.9% YoY to Rs 2,152.7 million in Q2FY24. - EBITDA grew by 31.8% YoY to Rs 936.7 million in Q2FY24, with an EBITDA margin of 44.8%. - Profit after tax (PAT) increased by 28.1% YoY to Rs 613.8 million in Q2FY24, with a PAT margin of 29.4%. - Diluted EPS stood at Rs 3.58, reflecting a 26.2% YoY growth in Q2FY24. H1FY24 Financial Performance: - Revenue from operations for H1FY24 was Rs 3,904.8 million, up 12.0% YoY. - Total income for H1FY24 stood at Rs 4,020.9 million, up 13.7% YoY. - EBITDA for H1FY24 was Rs 1,640.9 million, up 22.9% YoY, with an EBITDA margin of 42.0%. - PAT for H1FY24 increased by 22.7% YoY to Rs 1,047.5 million, with a PAT margin of 26.8%. - Diluted EPS for H1FY24 was Rs 6.11, reflecting a 21.0% YoY growth. Business Highlights: - Overall AAUM growth was 20.5% YoY, with a market share of 31.5%. - Equity AAUM growth stood at 20.2% YoY, with a market share of 34.0%. - 172 new corporate clients and four million investor folios were added under issuer solutions. - Revenue from international and other investor solutions businesses grew by 48.3% YoY, driven by growth in the international, alternate investment funds, and pension businesses. - The number of international clients increased to 50, with the first client in Singapore going live during the quarter. - NPS subscriber base grew to 1.04 million, representing a 24.0% YoY growth. Cash and Investments: - Cash and cash equivalents stood at Rs 3,742.3 million as of September 30, 2023. Sreekanth Nadella, Managing Director and CEO, KFin Technologies, "Our focus on creating a global fund administration business at scale is helping us to grow at a faster pace and build solutions of choice for the global asset managers aided by nimble technology deep-stack, strong delivery model and well-planned execution strategies. Our investment in next-generation technology and talent in the last four years is facilitating new client wins and process efficiencies across business segments which continue to aid faster growth in sales, expansion in margins, and profitability. We are committed and excited to pursue our global fund administration plan by targeting growth in the global alternative asset management industry. Our younger and faster-growing business segments will continue to outperform the growth in traditional domestic investor solutions and issuer solutions businesses leveraging our superior product suite and strong business development efforts." Result PDF
Other Financial Services company KFIN Technologies announced Q1FY24 results: Revenue from operations stood at Rs 1,815 million, up 7.6% YoY EBITDA stood at Rs 704.3 million, up 12.8% YoY EBITDA margin at 38.8% in Q1FY24 vs. 37.0% in Q1FY23 PAT at Rs 433.8 million, up 15.9% YoY PAT margin at 23.9% in Q1FY24 vs. 22.2% in Q1FY23 Diluted EPS stood at Rs 2.51, up 13.3% YoY Cash and cash equivalents at Rs 3,197.6 million as on June 30, 2023 Non-domestic mutual fund revenue share in overall revenue is at 29% in Q1FY24 Overall AAUM growth at 14.5% YoY vs. 14.2% for the industry, market share at 31.3% Equity AAUM growth at 15.5% YoY vs. 17.3% for the industry, market share at 34.4% New client Bajaj Finserv Asset Management Ltd went live in June 2023 Added 158 new corporate clients under issuer solutions, managed 4 out of 7 mainboard IPOs during the quarter, and market share in NSE500 companies at 46.5% Commenting on the company’s performance, Sreekanth Nadella, Managing Director and CEO, KFin Technologies said, “We continue to execute our business plans with a strong and definitive focus on building a diversified global fund administrator. Our growth continues to be a secular one with strong performance across business lines aiding a better first quarter, weighed against our estimations, in terms of sales, revenue, and margin delivery. With an excellent sales performance in the first quarter and a strong pipeline, we are confident of yielding better performance from all the business lines especially from the younger and faster growing segments as we move into the subsequent quarters. Our recent wins in Canada, Singapore, and Thailand are testimony to our technology platform finesse and strong business development efforts to position KFintech as a global fund administrator from India.” “KFintech is a technology-led platform-based company and we are committed to using frugal and agile engineering to build innovative solutions for global asset managers by running an efficient and optimized operation.” He added. Result PDF