CAMS declares dividend of ₹10.50 per share, net profit plunges by 4% in Q3
3 min read . Updated: 07 Feb 2023, 05:29 PM IST
Premium- A mid-size company with a market valuation of ₹11,064.22 Cr, Computer Age Management Services Ltd (CAMS) operates in the financial services industry.
A mid-size company with a market valuation of ₹11,064.22 Cr, Computer Age Management Services Ltd (CAMS) operates in the financial services industry. The company has declared its Q3 numbers today along with dividend for its eligible shareholders, post which the shares ended on a green note.
CAMS said in a stock exchange filing that “The Board has approved the payment of an interim Dividend of Rs.10.50 per equity share. The above Dividend will be paid to those shareholders as on 15th February 2023 which has been fixed as the "Record Date" for determining the members eligible to receive dividend. The expected date of disbursement of the dividend will be on or before 03rd March, 2023."
On a consolidated basis, the company reported revenue from operations of ₹243.57 Cr in Q3FY23 compared to ₹237.71 Cr in Q3FY22, representing a growth of 2.5% YoY. CAMS reported a Profit Before Tax (PBT) of ₹97.79 Cr in the quarter ended December 2022, down by 4.4% YoY from ₹102.25 Cr in the year-ago quarter. The net profit of the company stood at ₹73.72 Cr in Q3FY23 compared to ₹77.31 Cr in Q3FY22, representing a fall of 4.6%. Basic EPS of CAMS for Q3 FY23 stands at Rs. 15.05.
According to CAMS, it received two mutual fund mandates in Q3 FY23 from Helios Capital and Navi Mutual Fund. As a result, its AuM reached a lifetime high of Rs.27.8 Tn in Oct.-Dec.'22, growing by 6.1% QoQ compared to the industry's 5.6% growth. With a 9.2% market share in the eNPS sector, CAMS NPS maintains its #2 ranking, and in Q3FY23, CAMS won NASSCOM's "Cloud Innovator of the Year" award.
Commenting on the performance, Mr. Anuj Kumar, Managing Director said “We had a satisfactory quarter both in terms of our financial results and in maintaining our strong focus on operational excellence and financial prudence. Long term retail and HNI Mutual Fund investors’ confidence continued to remain strong. We saw new highs in transaction volumes and buoyant SIP collections of nearly Rs.8000 crore every month, with the quarter recording 6% higher inflows in SIP compared to the previous quarter. Equity AuM posted a robust increase of 6.1% Q-on-Q which helped lift the overall AuM under service to a life-time high of Rs.27.8 Lakh Crore. Winning Helios MF and NAVI MF mandates was an endorsement of CAMS’s superior technology and alignment to client business models for retail-led growth."
“Our AIF and PMS offering, which was fortified with the Wealthserv digital onboarding platform, continued to be on an encouraging trajectory with over 17 new client wins. The Account aggregator business is gaining momentum with expanded outreach and superior product positioning. 18 Banks & 1 Life Insurance Company are live on the platform as information providers while we have several marquee logos across Broking, Insurance and Fintech Wealth Managers on the consuming side who have commenced pulls from the platform," said Mr. Anuj Kumar.
“Insurance services continued to make strides with our industry first “deep tracing solution" to reach policy holders with unclaimed amounts, serving large Insurers and helping trace over Rs.130 Crore since the launch. eInsurance account offered via CAMSRep Insurance Repository touched a historic milestone of 5 million e-Policies," he further added.
“CAMS adoption of cloud for the NPS CRA platform was recognized as an exemplary achievement by NASSCOM and was awarded “Cloud Innovator of the Year". As a reaffirming step of our commitment to leverage financial technology related innovations and solutions to solve industry problems, we collaborated with IIT-M, an institute of eminence, to launch CAMS IIT-M Fintech Innovation Lab (CIFIL), as part of our CSR initiative," claimed Mr. Anuj Kumar.
The shares of CAMS closed today on the NSE at ₹2,258.00 apiece level, up by 0.09% from the previous close of ₹2,256.05.
