CAMS profit after tax down 4.6% to Rs 74 cr for quarter ending Dec

Registrar and transfer agent of mutual funds Computer Age Management Services Ltd on Tuesday reported 4.6 per cent drop in profit after tax to Rs 73.72 crore for the three months ended December 2022

Registrar and transfer agent of mutual funds Computer Age Management Services Ltd (CAMS) on Tuesday reported 4.6 per cent drop in profit after tax to Rs 73.72 crore for the three months ended December 2022.

In comparison, the company had posted a profit after tax (PAT) of Rs 77.31 crore in the year-ago period, CAMS said in a regulatory filing.

The company's revenue grew 2.5 per cent to Rs 243.57 crore in the quarter under review from Rs 237.71 crore in the year-ago period.

Sequentially, the PAT climbed 2.2 per cent and revenue was up 0.5 per cent.

"Our AIF (alternative investment fund) and PMS (portfolio management service) offering...continued to be on an encouraging trajectory with over 17 new client wins. The Account aggregator business is gaining momentum with expanded outreach and superior product positioning," company's Managing Director Anuj Kumar said.

In addition, the company has recommended an interim dividend of Rs 10.5 per share.

The company is the country's largest registrar and transfer agent of mutual funds with an aggregate market share of about 70 per cent based on mutual fund average assets under management (AAUM) managed by its clients and serviced by them.