KFin Technologies Q2 profit up 28%; Softbank sells another 1.1% in Zomato

KFin Technologies Q2 profit up 28% at Rs 61 crore

KFin Technologies on Friday reported Rs 61 crore net profit for the second quarter (Q2), a 28 per cent year-on-year (YoY) rise. In the same quarter last year, the net profit stood at Rs 48 crore. Revenue from operations surged 16 per cent YoY to Rs 209 crore.  For the half year ending September, the revenue from operation was up 12 per cent YoY at Rs 390 crore. Profits rose 22.7 per cent to Rs 105 crore.

"Our investment in next generation technology and talent in the last four years is facilitating new client wins and process efficiencies across businesssegments which continue to aid faster growth in sales, expansion in margins and profitability," said Sreekanth Nadella, managing director and CEO, KFin Technologies.

The financial services platform provides tech-driven solutions to the capital markets ecosystem including asset managers and corporate issuers.

Softbank sells another 1.1% in Zomato
 

SoftBank on Friday sold 93.6 million, or 1.1 per cent equity in food delivery major Zomato. Its investment firm SVF Growth Singapore sold shares at Rs 111.2 apiece to raise Rs 1,040 crore, data provided by stock exchanges showed. Shares of Zomato rose 1.5 per cent to finish at Rs 113.4. Among the buyers were Fidelity, Societe Generale, Motilal Oswal Mutual Fund and Morgan Stanley. On August 30, SVF had sold 1.15 per cent equity at Rs 94.7 apiece to mop up Rs 947 crore. After the latest stake sale, SVF holds less than 1.1 per cent stake in Zomato. Shares of Zomato have more than doubled in the past six months.
 

BS REPORTER