Prudent Corporate Advisory Services has reported that its net profit in June quarter was up 57 per cent at ₹44 crore against ₹28 crore logged in the same period last year.
Revenue increased 51 per cent at ₹249 crore (₹165 crore) led by 52 per cent growth in Quarterly Average AUM in the mutual fund verticle and 64 per cent rise in revenues from non-mutual fund products.
Last month, Prudent surpassed an AUM of ₹1 lakh crore, with a mark-to-market impact contributing ₹26,000 crore to the gain over the past twelve months, the company said. Systematic Investment Plan book grew by 41 per cent to ₹780 crore in June. Prudent’s market share of SIP flow in the industry was at 4 per cent for June.
Sanjay Shah, Managing Director, Prudent Group, said it took nearly 18 years for the company to reach ₹20,000 crore in AUM, but the last ₹20,000 crore was added in just six months.
“Our next goal is to reach a SIP book of ₹1,000 crore by March 2025,” he said.
Shirish Patel, CEO, said net equity sales were strong at ₹2,500 crore during the quarter, making up almost 40 per cent of total net equity sales for FY24.