By Malvika Gurung
Investing.com -- The recently-listed mutual fund advisor Prudent Corporate Advisory Services (NS:PRUE) released its first quarterly earnings results for the March 2022 ending quarter, since its debut on the Indian stock exchanges on May 20, 2022.
The retail wealth management company, while announcing its Q4 FY22 results, informed that its board of directors have recommended a final dividend of Re 1/share of the face value of Rs 5 apiece, a 20% dividend for the financial year 2021-22.
This will be subject to the shareholders’ approval at its annual general meeting, which will be intimated by the company. Also, the record date to determine the shareholders’ eligibility for dividend payment and the actual date of payment of the same shall be released separately too.
Prudent Corporate is India’s third largest mutual funds distributor after NJ India and ICICI Securities (NS:ICCI), reporting a strong set of earnings figures for the March ending quarter.
Its mutual fund assets (AUM) showed a sharp uptick of 60.4% YoY to Rs 49,473 crore, revenue surged 57.3% YoY to Rs 450 crore and profit after tax jumped 77.4% YoY to Rs 80 crore, noted PTI.
Also, in FY22, the MF major’s EBITDA soared 86% YoY, and margins improved by 400 basis points on a year-on-year basis.