Financial Services firm Prudent Corporate Advisory Services Announced Q1FY23 Result :
- Prudent Corporate Advisory Services Limited Profits grew by 25% YoY & Flows from SIPs Reach Highest Ever in 1QFY23
- Equity AUM at Rs 43,618 crore, up by 43% YoY
- Revenue at Rs 128.3 crore, up by 43% YoY
- EBITDA at Rs 32.1 crore, up by 54% YoY
- EBITDA Margins higher by 180 bps YoY
- PAT at Rs 15.6 crore, up by 25% YoY
- Assets Under Management Despite headwinds on the marked to market (M2M), Equity AUM grew by 43% to Rs 43,618 crore led by strong net sales & Karvy’s acquisition. We strengthened our position in Equity AUM market share (Ex-ETFs) by 37 bps YoY to 2.30%.
- Revenues grew by 43% YoY to Rs 128.3 crore led by strong AUM growth in mutual fund business & a higher equity mix in the overall AUM. Equity mix improved by 0.2% YoY to 93.1%.
- EBITDA & Margins Operating profit grew by 54% YoY to Rs 32.1 crore. Operating profit growth was higher than revenue growth led by operating leverage.
- Profit After Tax grew by 25% YoY to Rs 19.4 crore. PAT growth was slower than operating profit growth mainly led by higher depreciation and lower other income. Depreciation increased 200% YoY led by amortization of Karvy assets we acquired as on November 2021.
Commenting on the results, Mr Sanjay Shah, Chairman and Managing Director, said, “The 1st Quarter of FY23 has been outstanding in revenue and profitability. We have been able to generate significant free cash flows consistently, aided by our organic and inorganic growth engines. In FY2022, we acquired Karvy’s Mutual Fund AUM, totalling Rs 8,093 crore. In July 22, we continued our inorganic expansion by signing a term sheet to acquire MF AUM of iFast Financial India Private Limited.”