Shares of Prudent Corporate Advisory Services soared 14% to a record high of Rs 3,090 on October 31 after reporting a stellar Q2FY25 performance. The company’s operating revenue rose 51% year-on-year to Rs 286.1 crore, driven by a 53% increase in average quarterly assets under management (AUM) in its mutual fund segment and a 36% rise in revenue from non-mutual fund products.
Operating profit saw a 59% YoY jump to Rs 68.7 crore, outpacing revenue growth thanks to improved operating leverage, which lifted operating margins by 1.3 percentage points to 24% as of September 2024. Net profit after tax surged 69% YoY to Rs 51.5 crore, supported by a strong operational performance and additional income from treasury gains.
As one of India’s leading retail wealth management firms, Prudent Corporate provides a comprehensive suite of financial products and services for a diverse client base, including retail investors, corporations, high-net-worth individuals, and ultra-HNIs across 135 locations in 21 states.
In the words of Sanjay Shah, the Managing Director of Prudent Group, this trend is very encouraging with the continued growth of mutual funds: “The unique mutual fund investor count for the industry crossed Rs 5 crore in September. This accelerated growth is a significant tailwind for Prudent, as reflected in our performance.
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Source: Moneycontrol
News Desk
