Financial services firm KFin Technologies reports 79% profit growth in Q3

Total income rises 14% to Rs 194 crore while expenses declined 4.8% to Rs 123 crore

Financial services firm KFin Technologies has reported a 79 per cent jump in profit in the third quarter of financial year 2023. The profit after tax for the period stood at Rs 53 crore compared to Rs 29.8 crore in the same period of the previous financial year, the company said in a press release.

Total income rose 14 per cent to Rs 194 crore from Rs 170 crore while expenses declined 4.8 per cent to Rs 123 crore, according to the company.

"Our technology-led innovation & execution to address our client needs, deep product stack, and value- added solutions have helped us to add new clients across segments. As we move forward, we will leverage our differentiated strengths across local and global asset management solutions to add value to our clients, partners, and shareholders," said Sreekanth Nadella, Managing Director and CEO.

KFin Technologies provides services and solutions to the capital markets ecosystem including asset managers and corporate issuers across asset classes in India.