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Registrar and transfer agent for mutual funds CAMS on Thursday reported a 38.5 per cent surge in profit after tax to Rs 103 crore for three months ended March this year, driven by robust performance across the business streams.
In comparison, the company had posted a profit after tax (PAT) of Rs 74.36 crore in the year-ago period, Computer Age Management Services Ltd (CAMS) said in a statement.
Its revenue grew 24.6 per cent to Rs 310.46 crore in January-March of the financial year 2023-24 (FY24) from Rs 249.24 crore a year ago.
"We had an excellent quarter in terms of posting strong financial results, with quarterly revenue and PAT growing at 24.6 per cent and 38.7 per cent YoY (year-on-year).
"All these numbers are a culmination and deep vindication of robust performance across our revenue streams and are reflective of deep business and operational focus of our teams," Anuj Kumar, Managing Director of CAMS, said.
The company said that revenues from the mutual fund business rose 21 per cent YoY, while that from non-mutual fund streams surged 52 per cent YoY.
For the full financial year 2023-24, the company's PAT stood at Rs 353.64 crore, marking a 24 per cent YoY growth and revenues were at Rs 1,136.52 crore in FY24, up 17 per cent from the preceding fiscal.
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