This financial services stock doubles investors' wealth in less than 1.5 years

KFin Technologies shares in early trade on April 30 hit a new all-time high of Rs 763.4 per share on the BSE as the company's PAT rose 30.6 per cent to  Rs 74.5 crore for three months ended March 2024, driven by growth across business verticals.

In comparison, the company had posted a PAT of Rs 57 crore in the same quarter preceding fiscal, the firm said in a statement.

The sharp surge takes the gains in the stock to 109 per cent from the company's IPO issue price of Rs 366 when the company launched its IPO in December 2022, less than 1.5 years ago.

Revenue from operations surged by 25 per cent to Rs 228.34 crore in the January-March quarter of the financial year (FY) 2023-24, from Rs 183.13 crore in the year-ago period. The company's board has declared a dividend of Rs 5.75 per equity share for FY24. This is subject to shareholders' approval.

Margins at the company also increased to 39.4 per cent in comparison to 38.3 per cent in the corresponding period of the previous fiscal year.

Global brokerage Jefferies is bullish on the stock and continues with its buy call with a target of Rs 760 that has been already hit in today's trade.

KFin Technologies provides software as a service (SaaS) based end-to-end transaction management, channel management, compliance solutions, data analytics, and various other digital services to asset managers across segments, as well as outsourcing service