KFin Technologies rallied 6.46% to Rs 750.40 after the company's consolidated net profit jumped 30.61% to Rs 74.47 crore in Q4 FY24 as against 57.01 crore recorded in Q4 FY23.
Revenue from operation increased 24.68% year on year (YoY) to Rs 228.34 crore in the quarter ended 31 March 2024.Profit before tax stood at Rs 94.37 crore in the quarter ended 31 March 2024, up 24.08% as against Rs 76.06 crore recorded in Q4 FY23.
During the quarter, EBITDA stood at Rs 104.6 crore, registering a growth of 24.8% as against Rs 83.83 crore recorded in Q4 FY23. EBITDA margin rose by 3 basis points YoY to 45.8% in Q4 FY24.
On the segmental front, revenue from domestic mutual fund investor solutions stood at Rs 161.41 crore (up 27.27% YoY), issuer solution stood at Rs 31.50 crore (up 14.15% YoY), international and other investor solutions was at Rs 27.25 crore (up 46.98% YoY) during the quarter.
On the other hand, global business services revenue declined 19.64% YoY to Rs 8.18 crore during the period under review.
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Sreekanth Nadella, managing director and CEO, KFin Technologies said, We are delighted to announce another quarter and a full year of strong performance marked by consistent growth and enhanced profitability across our diverse business verticals. The year witnessed a notable uptick in our new client wins and international market engagements, underpinned by a swelling pipeline of deals.
This bodes well for our sustained growth trajectory and reaffirms our commitment to become a global fund administrator to service the burgeoning landscape of asset management industry, both in India and globally.
Further, the board has recommended a final dividend of Rs 5.75 per share for the financial year ended March 2024.
On full year basis, the company's consolidated net profit increased 25.7% to Rs 246.05 crore on 16.32% rise in revenue from operations to Rs 837.53 crore in FY24 over FY23.
KFin Technologies is engaged in providing service of registrar to the public issue of securities, registrar to the securities transfers, and back office operations to mutual fund houses and data processing activities.
The counter hit an all time high of Rs 763.40 on the BSE.
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