Prudent Company Advisory stories a 51% improve in revenues and a 57% rise in income

Prudent Company Advisory Companies, an impartial retail wealth administration providers group, has reported a 51% year-on-year improve in income from operations, reaching Rs 249.4 crores for the quarter ended June 2024. The corporate achieved a web revenue of Rs 44 crores for the June quarter, marking a 57% progress in comparison with the identical interval final yr.

This important income progress was pushed by a 52% improve within the quarterly common property underneath administration (AUM) within the mutual fund sector, alongside a 64% rise in revenues from non-mutual fund merchandise.

On July 26, Prudent reached a serious milestone with an AUM of Rs 100,000 crores. The Systematic Funding Plan (SIP) guide grew by 41% year-on-year in June, totaling Rs 780 crores. Prudent’s market share of SIP flows within the trade was 3.7% for June 2024.

Commenting on the outcomes, Sanjay Shah, managing director of Prudent Group, said that this achievement highlights the worth Mutual Fund Distributors discover in partnering with Prudent resulting from its expertise and on-ground assist. “Our subsequent objective is to achieve a SIP guide of Rs 1,000 crores by March 2025.”