ICICI Securities Q3 Profit Surges 66% to Rs 466 cr

New Delhi, Jan 16 (PTI) Brokerage house ICICI Securities on Tuesday reported a 66 per cent year-on-year jump in Profit After Tax (PAT) to Rs 465.7 crore in three months ended December 2023.

In comparison, the company had posted a PAT of Rs 280.9 crore in the October-December quarter of the preceding fiscal (FY23), ICICI Securities, a part of ICICI Group, said in a regulatory filing.

The company registered a revenue of Rs 1,323.3 crore in the quarter under review, marking a 50 per cent year-on-year (YoY) surge from Rs 879.9 crore in the three months ended December 31, 2022.

The increase in revenue was led by growth in broking income in the cash segment along with the investment banking segment.

"We continue to grow with our focus on the acquisition of quality clients, gaining market share in revenue-generating segments, growing our distribution business, enhancing customer experience and continued investment in enhancing franchise as well as technology. Overall, we strongly believe that the medium to long term story for the industry remains intact," Vijay Chandok, Managing Director and CEO of ICICI Securities, said.

Overall, the client's assets stood at Rs 6.9 lakh crore in three months ended December 31, 2023, an increase of 16 per cent on a yearly basis.