Angel One Q4 Results: Profits rose 27% to Rs 340 crore on surge in deal activity.
The company’s profit rose to Rs 340 crore ($40.7 million) in the quarter, driven by increased trading activity, especially among retail investors, as domestic stock markets hit record highs and raw material prices rose sharply. no see.
The profit growth rate was higher than the 14% growth rate in the third quarter and was the lowest since listing in September 2020.
Strong trading activity in the fourth quarter led to a 79.4% increase in Angel One’s orders, resulting in a nearly 65% increase in consolidated revenue to Rs 1,357 crore.
However, total costs increased by around 92%, and net profit margin was 25%, down from 32.3% in the same period last year.
Angel One has been spending more on client acquisition and technology upgrades as competition increases from startups such as Zerodha, Groww and Upstox. Angel One, which started as a traditional securities firm in 1996, had a 14.7% Indian Demat account share in India in the most recent quarter. This is compared to 12% in the same period last year. The company’s shares have fallen 18% since the beginning of the year, compared to a 1.8% decline in the Nifty Financial Services index.
