Prudent Corporate Advisory Services' PAT rises 25% yoy to Rs15.6 crore in Q1FY23

2 Aug 2022 , 09:16 AM

Prudent Corporate Advisory Services Limited has announced that the Board of Directors have approved the Un-audited Financial Results (standalone and consolidated) for the first quarter ended on June 30, 2022.

Key Result Highlights

• Equity AUM at Rs43,618 crore, up by 43% yoy
• Revenue stood at Rs128.3 crore, higher by 43% yoy
• EBITDA stood at Rs32.1 crore, up by 54% yoy
• EBITDA Margins higher by 180 bps yoy
• PAT stood at Rs15.6 crore, up by 25% yoy

Assets Under Management

Equity AUM grew by 43% to Rs43,618 crore led by strong net sales & Karvy’s acquisition. The Company strengthened its position in Equity AUM market share (Ex-ETFs) by 37 bps YoY to 2.30%.

Revenue

In Q1FY23 Revenues grew by 43% yoy to Rs128.3 crore led by strong AUM growth in mutual fund business & a higher equity mix in the overall AUM. 

EBITDA & Margins

Operating profit rose by 54% yoy to Rs32.1 crore. Further, Operating profit growth was higher than revenue growth led by operating leverage.

Profit After Tax

Profit After Tax grew by 25% yoy to Rs19.4 crore. PAT growth was slower than operating profit growth on account of higher depreciation and lower other income. Depreciation increased 200% YoY led by amortization of Karvy assets the company acquired as on November 2021.

Commenting on the results, Sanjay Shah, Chairman and Managing Director, said, “The Q1FY23 has been outstanding in revenue and profitability. We have been able to generate prominent free cash flows consistently, aided by our organic and inorganic growth engines.

In FY2022, the company acquired Karvy’s Mutual Fund AUM, totalling Rs 8,093 crore. In July 22, we signed a term sheet to acquire MF AUM of iFast Financial India Private Limited.”

On Tuesday early morning trade, Prudent Corporate Advisory Services was trading at Rs548.40 per share higher by 1.18% on the BSE.