CAMS Q1 profit grows 18pc to Rs 76 cr

Registrar and transfer agent for mutual funds Computer Age Management Services Ltd (CAMS) has posted an 18 per cent increase in profit after tax (PAT) to Rs 76.34 crore for the quarter ended in June 2023.

The company had posted a PAT of Rs 64.78 crore in the same quarter of the preceding fiscal, CAMS said in a statement.

Its revenue rose by 10.4 per cent to Rs 261.3 crore in the quarter under review from Rs 236.65 crore in the April-June quarter of 2022.

''The Indian mutual fund industry grew by 6.4 per cent quarter-on-quarter (Q-o-Q) to reach Rs 43.8 lakh crore in AUM and is well-positioned for future growth. Our assets under management grew by 6.8 per cent Q-o-Q, ahead of the industry, to cross the Rs 30 lakh crore mark,'' Anuj Kumar, Managing Director of CAMS Ltd, said.

Besides, the company has recommended a dividend of Rs 8 per share.

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