Prudent Corporate Advisory Services Q1 Results: Net profit jumps 45% to Rs. 28.1 crore

The retail wealth management services firm Prudent Corporate Advisory Services reported a 29% year-on-year (YoY) growth in revenue from operations at Rs. 165.4 crores for the June quarter, driven by a 22% growth in average quarterly assets under management (AUM) in the mutual fund vertical coupled with the insurance revenues doubling. The company reported a 45% growth in net profit at Rs. 28.1 crore.

The company said in a press release that the growth in AUM was led by a strong rally in the market during the quarter and a robust monthly Systematic Investment Plans (SIP) flow of Rs.542 crore.

“In the next three years, as we aim to achieve an AUM of Rs 1 trillion, we foresee our monthly SIP inflow crossing the mark of Rs 1000 crore,” said Sanjay Shah, managing director of the company. “With a robust performance track record and a promising economic backdrop, we are poised to continue our successful growth trajectory,” he added.