12-Apr-2024
2 mins read
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CAMS share price opened 4% gap up on friday, April 12, 2024, after the company got green signal from RBI to act as an online payments aggregator.
Computer Age Management Services (CAMS) informed the stock exchange on April 11, that Reserve Bank of India has authorised the company to act as an online payment aggregator. In February 2023, RBI gave the company an in-principle authorisation to operate as an online payment aggregator.
The certificate of authorisation was received by CAMS on April 10, 2024. CAMSPay, the payment business unit of the company caters the needs of BFSI and Ed-tech sectors.
The company’s payment business unit CAMSPay currently serves clients which includes mutual funds, insurance companies, banks and NBFC.
Last month, CAMSPay registered over 1.2 Million mandates for UPI autopay, underlying the company’s growing influence in the Online Digital Payment Segment.
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About CAMS and Financial Performance
Computer Age Management Services is a technology driven B2B services provider to mutual funds and other financial institutions for over 25 years. Moreover, the company also serves customers directly through various touch points such as Pan-India network of service centres, white label call centres, mobile app, chat bot etc.
In the quarter ending on 31 December 2023, CAMS reported an operating profit of Rs 123 crore and net profit of Rs 86 crores. In the last four quarters, the profits are steadily rising. Now, after getting approval for an online payment aggregator, the profits and operating revenue is likely to grow in future.
The compounded profit growth of 3 years is 19% and for 5 years is 11%. The share price of CAMS has also performed well in the last 12 months and has generated decent returns for its investors. Let’s see how CAMS expands its services in the coming future.
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