DBT Bureau
Bengaluru, 14 October 2024
Broking company Angel One reported strong set of numbers in the second quarter of current financial year.
The discount broking firm reported a net profit of Rs 423 crore, higher by 39% over the same period last year. Its revenue from operations was at Rs 1514.7 crore during this period, a rise of 44% compared to a year ago.
Angel One reported operating margin of 44.4% during Q2FY25, higher than 42.3% posted a year ago.
Commenting on the financial performance, Dinesh Thakkar, CMD at Angel One said this was the ‘best-ever’ performance across financial and operational metrics.
“With a 19.3% share in overall retail equity turnover, we continue to report an improvement in market share across all segments,” he said.
The broking firm reported a client base of 2.75 crore by the end of September quarter, an increase of 11.2% on a QoQ basis.
Most broking firms including Zerodha, Groww and others have reported strong numbers in recent quarters owing to higher trading activity by retail investors.
However, recent changes in norms by the market regulator, SEBI are likely to negatively impact the performance in coming quarters as most expect decline in derivatives trading going ahead.
