Prudent Corporate Advisory reports 51% increase in revenue and 57% increase in profit

Prudent Corporate Advisory Services, an independent retail wealth management services group, has reported a 51% year-on-year growth in operations from Rs. 249.4 crore has been reached. The company paid Rs. 44 crore net profit has been achieved. For the June quarter, showing a 57% growth compared to the same period last year.

This significant revenue growth was driven by a 64% increase in revenue from non-mutual fund products, along with a 52% increase in quarterly average assets under management (AUM) in the mutual fund sector.

On 26 July, Prudent paid Rs. A major milestone was reached with an AUM of Rs 100,000 crore. Systematic Investment Plan (SIP) book grew by 41% year-on-year in June, totaling Rs. 780 crores. Prudent’s market share of SIP flows in the industry for June 2024 was 3.7%.

Commenting on the results, Sanjay Shah, Managing Director, Prudent Group, said this achievement demonstrates the value mutual fund distributors derive from partnering with Prudent due to its technology and on-ground support. “Our next target is to reach a SIP book of Rs 1,000 crore by March 2025.”