KFin Technologies Reports 25.7% PAT Increase in FY 2024

On April 29, 2024, KFin Technologies Limited announced its financial results for the quarter and year ended March 31, 2024. In FY 2024, the company’s revenue from operations was up by 16.3% compared to the previous year, and the Profit After Tax (PAT) increased by 25.7%.

Financial Highlights FY 2024

In FY 2024, the company’s revenue from operations stood at ₹8,375.3 million, up 16.3% year over year, and the PAT stood at ₹2,460.5 million, up 25.7% year over year. KFin Technologies Limited’s EBITDA was at ₹3,666.0 million, up 23.0% compared to FY 2023. The Diluted EPS was at ₹14.34, up 24.5% y-o-y. The company reported its Cash and cash equivalents at ₹4,011.6 million as of March 31, 2024.

Financial Highlights Q4 FY 2024

In the case of the financial performance in the quarter ended March 2024, the company’s revenue from operations was ₹2,283.4 million, up 24.7% compared to the same period in FY 2023. The EBITDA stood at ₹1,046.0 million, up 24.8% y-o-y. In Q4 FY 2023, the company reported a PAT of ₹744.7 million, up 30.6% compared to Q4 FY 2023. The Diluted EPS stood at ₹4.32, up 30.2% y-o-y.

Business Highlights

In FY 2024, KFin Technologies secured an initial datalake contract from non-KFintech AMC. It also secured an AMC contract for digital asset development and deals from Big 4 for the Guardian insider trading platform. The company created the SUPTECH platform – SEBI’s Alert, Report & Analytics Portal (P.A.R.A.S). The company’s international clients increased to 57. It also won an RTA contract from an existing client in Hong Kong. Overall, it added 208 new corporate clients and six million investor folios under issuer solutions.

The company’s board also proposed and declared a dividend of ₹5.75 per share, subject to shareholders’ approval.

Commenting on the financial performance, Managing Director and CEO of KFin Technologies Limited, Sreekanth Nadella, 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. Our steadfast commitment to excellence in execution, led by our innovative solutions and exceptional talent, has been instrumental in driving this success.”

He further added, “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 becoming a global fund administrator to service the burgeoning landscape of the asset management industry, both in India and globally. Looking ahead, we remain committed to driving innovation, forging strategic partnerships, and delivering sustainable value to our stakeholders.”

On April 30, 2024, the share price of KFin Technologies Ltd opened at ₹730.00, up by ~3.50% compared to the previous close on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.