Prudent Corporate Advisory Services, an independent retail wealth management company, has reported that its net profit in March quarter was up 10 per cent at ₹45 crore against ₹41 crore logged in the same period last year. ts income was up at ₹246 crore (₹180 crore).
The board has recommended a final dividend of ₹2 per share. The company’s expenses increased to ₹186 crore (₹125 crore). In FY24, the company’s net profit was up 19 per cent to ₹139 crore led by a strong operational growth. Income was up 33 per cent at ₹825 crore (₹619 crore).
Growth in AUM was largely led by marked-to-market gains as equity market registered a strong broad based rally during FY24. Closing AUM as of March-end was up 48 per cent year-on-year to ₹83,384 crore.
Systematic investment plan (SIP) book of the company increased 40 per cent to ₹726 crore y-on-y in March. Its market share of SIP flow in the industry stood at 3.8 per cent as of March-end.
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Sanjay Shah, Managing Director, Prudent Group said gross household financial savings is expected to double to ₹62-lakh crore in the next six years. Within gross household financial savings, share of savings in the form of currency and deposits have gone down from 64 per cent a decade back to now 45 per cent. This share is getting captured by government savings scheme and investments in the form of mutual funds and direct equity, Shah added.
Mutualfund industry’s SIP book grew by nearly ₹5,000 crore in FY24, of which Prudent’s contribution is ₹200 crore leading to a 4 per cent market share in the incremental SIP additions.
By March 2026, Prudent aims to achieve an AUM of ₹1-lakh crore and monthly SIP inflow crossing ₹1,000-crore-mark, he said.
Shirish Patel, Chief Executive Officer, Prudent Group, said the company added ₹27,700 crore of equity AUM. Of this, ₹21,500 crore was contributed by marked to market movement.
Net sales during the year was ₹6,200 crore which was up 25 per cent compared to FY23 levels, while the FY25 looks promising, he said.
At 1.26 pm, Prudent Corporate Advisory Services’ share price declined 2.24 per cent, or ₹36.25, to ₹1,584.20 on NSE on Tuesday.