CAMS Q3 Results Review - Inline Performance, Margin Improves Sequentially: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Computer Age Management Services Ltd.'s reported a net profit of Rs 885 million in Q3 FY24, up 20% YoY, and in line with our estimate. The growth in profitability was supported by a YoY increase in the share of non-MF business and an improving mix of equity assets under management in the total mutual funds AUM.The share of non-MF business grew to 12.8% YoY in Q3 FY24 and is expected to continue to increase in the coming quarters. Operating revenue reached Rs 2.89 billion, up 18.9% YoY and 5.3% QoQ, in line with our estimate.The management is confident that CAMS WealthServ, CAMSPay, CAMSRep, and Think360 would contribute sizable revenues in the coming quarters. It expects 20%+ growth in revenues for non-MF business.Currently, we have a 'Buy' rating on the stock with a target price of Rs 3,450 at a earning price multiple of 32 times on FY26E ..Click on the attachment to read the full report:.Rupee Remains Steady Versus U.S. Dollar After RBI Status Quo.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

CAMS Q3 Results Review - Inline Performance, Margin Improves Sequentially: Motilal Oswal

On track to increase revenue share of non-MF business.

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