Computer Age Management Services (CAMS) surged 5.7% to Rs 1979 after the company's consolidated net profit jumped 22% to Rs 56.42 crore in Q3 FY21 as against Rs 46.23 crore in Q3 FY20.
Consolidated revenue from operations grew by 5.6% to Rs 185.95 crore in Q3 FY21 from Rs 176.03 crore in Q3 FY20. The result was announced during market hours today, 11 February 2021.Profit before tax rose 24% to Rs 75.59 crore in Q3 FY21 compared with Rs 61 crore recorded in the same quarter last year. Total tax expense spiked 30% to Rs 19.17 crore in Q3 FY21 over Q3 FY20.
Commenting on the results, Anuj Kumar, whole time director & CEO of CAMS said, "It has been a satisfactory quarter both from the perspective of Company results and the operations coming back to near normal as the pandemic led changes abated. MF AuM was on a stride with the market volatility settling down and peaked to historic highs. SIPs registrations have seen a come-back in the last quarter compared to the previous quarter pointing to retail investor confidence. Assets serviced by CAMS is at 69.5% of the industry AAuM. The company's services for AIF and PMS segments expanded with the launch of an integrated digital on-boarding platform. CAMS digital properties like myCAMS, GoCorp and edge360 posted significant volume traction aiding the MF industry's digital drive. There has been concerted visibility and opportunity build with wider BFSI segment for new products and new business lines which include Recon platform, Digital platform for loan against MF, CAMS Finserv Account Aggregator and CAMS Pay."
Meanwhile, the company has declared an interim dividend of Rs 7.6 per share.
CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions with over two decades of experience.
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