Gurgaon, January 25, 2024: KFinTech announced its financial results for the quarter and nine months ended 31st December 2023 today.
Financial Highlights – Q3FY24
· Revenue from operations stood at ₹ 2,187.2 million, up 16.3% y-o-y, Revenue from international and other investor solutions businesses grew at 28.2% y-o-y, EBITDA stood at ₹ 979.0 million, up 21.3% y-o-y, EBITDA margin at 44.8% in Q3FY24 vs. 42.9% in Q3FY23, PAT at ₹ 668.3 million, up 25.2% y-o-y, PAT margin at 30.6% in Q3FY24 vs. 28.4% in Q3FY23, Diluted EPS stood at ₹ 3.88, up 23.1% y-o-y.
Financial Highlights – 9MFY24:
· Revenue from operations stood at ₹ 6,091.9 million, up 13.5% y-o-y, Revenue from international and other investor solutions businesses grew at 30.3% y-o-y, EBITDA stood at ₹ 2,619.9 million, up 22.3% y-o-y, EBITDA margin at 43.0% in 9MFY24 vs. 39.9% in 9MFY23, PAT at ₹ 1,715.8 million, up 23.7% y-o-y, PAT margin at 28.2% in 9MFY24 vs. 25.8% in 9MFY23, Diluted EPS stood at ₹ 10.00, up 21.9% y-o-y, Cash and cash equivalents at ₹ 3,134.3 million as on December 31, 2023, Non-domestic mutual fund revenue share in overall revenue is at 31% in 9MFY24.
Business Highlights – Q3FY24:
· Overall AAUM1 growth at 22.7% y-o-y vs. 22.2% for the industry, market share1 at 31.8%, Equity AAUM1 growth at 24.2% y-o-y vs. 29.8% for the industry, market share1 at 33.5%, Added 1702 new corporate clients and five million2 investor folios under issuer solutions; Won RTA mandate from Usha Martin Limited; Market share3 in NSE500 companies at 46.5%;
Number of international clients increased to 544 of the two LOIs received from Malaysian clients for RTA and FA in Oct-23, contract execution completed with one and received LOA5 from the other; Won an RTA contract in Middle East from an existing client; Won a new deal5 in Malaysia for RTA and FA managed services
· No of alternate funds at 4554; Market share4 at 36.4%; AAUM grew 54.4% y-o-y to ₹ 910 billion4; Launched, XAlt, an integrated fund administration platform for the global alternate asset managers, NPS subscriber base4 grew to 1.10 million, up by 25.3% y-o-y vs. 11.9% y-o-y growth for the industry
Commenting on the company’s performance, Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited said, “We are excited to deliver yet another quarter of strong performance in terms of growth as well as profitability driven by strong focus on execution across our diversified business segments. We have a strong pipeline of deals in the international markets which we believe will propel our overall growth. KFintech is uniquely positioned to offer full-suite of fund administration services to the global asset managers using its state-of-the-art technology stack and innovative value-added solutions. With the launch of the industry first platform XAlt, KFintech aims to set new standards in the global fund administration space to offer fully automated system to global alternate asset managers that aligns with the evolving requirements. India’s alternate asset management industry is at an inflection point and with global industry too expected to grow at a rapid pace, KFintech is well poised to seize the opportunity leveraging its product suite and sales efforts.”
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