CAMS quarterly profit marginally rises to Rs 75 crore

Registrar and transfer agent for mutual funds CAMS on Monday reported a marginal rise in profit after tax to Rs 74.61 crore for the three months ended March.

In comparison, the company had posted a profit after tax of Rs 73.84 crore in the same quarter of the preceding fiscal, Computer Age Management Services Ltd (CAMS) said in a statement.

Its revenue rose 2.5 per cent to Rs 249.24 crore in the quarter under review from Rs 243.18 crore in the year-ago period.

Anuj Kumar, Managing Director of CAMS Ltd, said that despite the volatile market situation, individual investor confidence remained high with stable equity net inflows supported by strong SIP (Systematic Investment Plan) collections of nearly Rs 8,500 crore every month.

New SIPs, clocking 13.5 lakh-plus monthly registrations, is another key trend pointing to mutual funds as the preferred route for long-term investors, he said.

The company said it has recommended a final dividend of Rs 12 per share.

For the full financial year 2022-23, the company's profit after tax stood at Rs 285.25 crore and revenues were at Rs 971.83 crore.

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