Registrar and Transfer Agent (RTA) KFin Technologies on October 20 reported net profit for the quarter at Rs 61.38 crore, up 28.1 percent year on year (y-o-y). Its revenue from operations stood at Rs 208.97 crore, rising 16 percent y-o-y.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter stood at Rs 93.67 crore, up 31.8 percent y-o-y, EBITDA margin was at 44.8 percent in Q2FY24 versus 39.4 percent in Q2FY23.
“Our focus on creating a global fund administration business at scale is helping us to grow at a faster pace and build solutions of choice for the global asset managers aided by nimble technology deep-stack, strong delivery model and well-planned execution strategies,” said Sreekanth Nadella, Managing Director and CEO, KFin Technologies.
“Our investment in next generation technology and talent in the last four years is facilitating new client wins and process efficiencies across business segments which continue to aid faster growth in sales, expansion in margins and profitability.”
The company said during the quarter it added 172 new corporate clients and four million investor folios under issuer solutions. Moreover it won RTA mandate from State Bank of India. KFin’s market share in NSE500 companies was at 47.3 percent.
“Revenue from younger and faster growing international and other investor solutions businesses grew at 48.3 percent y-o-y, aided by growth in the international, alternate investment funds and pension businesses,” it said.
Its number of international clients increased to 50. Its first client in Singapore went live during the quarter.
It had the mandate of 434 alternate funds with market share at 37.2 percent.
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