KFin Technologies gains over 8% to hit lifetime high after strong Q4 results
Upstox
2 min read • Updated: April 30, 2024, 11:20 AM
Summary
KFin Technologies' net profit increased 30.6% to ₹74.5 crore for the quarter that ended March 31, 2024, led by growth across business verticals. In the year-ago period, the company had posted a net profit of ₹57 crore.
Shares of KFin Technologies on Tuesday hit their lifetime high after the company released its earnings for the fourth quarter of the financial year 2023-24 (FY24).
The stock jumped as much as 8.5% to reach ₹765.6 per share, the highest level on the National Stock Exchange. At 11:04 am, it was trading 4.9% higher at ₹740.6. The scrip was at ₹741 on the BSE, up 5.1%.
The market capitalisation of the company stands at ₹12,663.4 crore, while the free float market capitalisation is ₹7,717.3 crore.
KFin Technologies Q4 FY24 results
KFin Technologies' net profit increased 30.6% to ₹74.5 crore for the quarter that ended March 31, 2024, led by growth across business verticals. In the year-ago period, the company had posted a net profit of ₹57 crore.
Revenue from operations stood at ₹228.3 crore in Q4 FY24 as against ₹183.1 crore in the same quarter preceding fiscal, reflecting a gain of 25%.
The company's board has proposed a final dividend of ₹5.75 per share for FY24, pending approval from shareholders.
For FY24, the tech-driven financial services firm's revenue from operations grew by 16.3% at ₹837.5 crore, and net profit rose by 26% to ₹246 crore.
The company provides software as a service (SaaS)-based end-to-end transaction management, compliance solutions, channel management, data analytics and various digital services to asset managers across segments. It also provides outsourcing services for global players.
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