Angel One's Q3 profit rose 14% YoY to Rs 260.3 crore, driven by revenue growth and client additions. Revenue surged 41.5% to Rs 1,059 crore, and the company added 2.5 million new clients.
New Delhi, Jan 16 (PTI) Brokerage house Angel One has reported a 14 per cent year-on-year growth in net profit at Rs 260.3 crore for three months ended December 2023.
It had posted a net profit of Rs 228 crore in the year-ago period, Angel One said in a regulatory filing.
However, on a sequential basis, the company's profit plunged 14.5 per cent.
Its revenue from operations rose 41.5 per cent to Rs 1,059 crore in the third quarter ended December 31, 2023, from Rs 748.6 crore a year ago.
During the quarter, Angel One witnessed its highest-ever client growth, with the addition of 2.5 million new clients. This takes the total client base to 19.5 million.
Besides, the company's board has recommended an interim dividend of Rs 12.70 per share.
"Our digital assets are continuously evolving, (and) enriched with innovative features to ensure an unparalleled investing experience. We undertook process improvements, to ease the onboarding experience and incorporated some unique features, for both new and experienced clients, thus simplifying their investment journey on the app," Dinesh Thakkar, Chairman and Managing Director of Angel One, said.
Despite the robust performance, the company's shares settled 14 per cent lower at Rs 3,328.30 apiece on the BSE.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback