KFin Technologies' profit rises to Rs 196 crore, revenue up 13% in FY23

KFin Technologies on Friday reported a 12.6 per cent growth in revenues in the 2022-23 financial year (FY23), at Rs 720 crore. Net profit for the firm rose 32 per cent to Rs 196 crore.

For the fourth quarter (Q4), the revenues from operations stood at Rs 183 crore, up 1.3 per cent year-on-year. The financial services company reported a profit of Rs 57 crore for the quarter.

During Q4, the market share of the registrar and transfer agent (RTA) in the mutual fund industry stood at 31.6 per cent, the company said in a press release.

"(In the last quarter) we invested in two new businesses -- OneMoney and WebileApps -- to make major strides into the evolving ecosystem of account aggregator industry and to consolidate our digital prowess," said Sreekanth Nadella, managing director and chief executive officer, KFin Technologies.

On Friday, shares of the company closed at Rs 316.5 apiece, which was five per cent lower than the previous day's close.