CAMS reports 38.5% surge in Q4 profit amid strong financial performance

CAMS reports surge: In a recent statement, Computer Age Management Services Ltd (CAMS), a registrar and transfer agent for mutual funds, announced a substantial 38.5 per cent increase in quarterly profit after tax to Rs 103 crore for the three months ending March this year. This surge contrasts with the Rs 74.36 crore reported during the same period last year.

The company's revenue also witnessed a notable uptick, soaring by 24.6 per cent to Rs 310.46 crore in the January-March quarter of the financial year 2023-24, compared to Rs 249.24 crore in the corresponding period a year earlier.

Anuj Kumar, CAMS' Managing Director, expressed satisfaction with the outstanding quarterly results, highlighting the impressive 24.6 per cent and 38.7 per cent year-on-year growth in quarterly revenue and profit after tax, respectively. Kumar attributed these achievements to the robust performance demonstrated across various revenue streams, emphasising the unwavering business and operational focus of CAMS' teams.

CAMS reported a significant boost in revenues from its mutual fund business, rising by 21 per cent year-on-year, while non-mutual fund streams surged by an impressive 52 per cent over the same period.

Looking at the broader financial picture, CAMS' profit after tax for the full financial year 2023-24 amounted to Rs 353.64 crore, marking a commendable 24 per cent year-on-year growth. Additionally, the company's revenues for FY24 totaled Rs 1,136.52 crore, reflecting a notable 17 per cent increase from the preceding fiscal year.

The robust quarterly and annual performance reported by CAMS underscores its resilience and strategic adaptability amidst evolving market dynamics.

(with PTI inputs)