Angel One shares rally 5% after posting 31% increase in Q4 profit
Angel One's shares surged by up to 5.5% to Rs 3099 as it reported a 27% YoY increase in consolidated net profit to Rs 340 crore for the quarter ended March 2024.
shares on Thursday rallied up to 5.5% to the day’s high at Rs 3099 after the stockbroker reported a rise in consolidated net profit for the quarter ended March 2024 to Rs 340 crore, up 27% year-on-year (YoY). Consolidated revenue from operations jumped 64.4% YoY to Rs 1,357.2 crore.”Angel One has always focused on innovation to fulfill its unwavering commitment to client-centricity. In the journey we have traversed, Angel One has achieved many milestones and garnered trust from its clients. FY24’s performance resonates the same, as we delivered a historic performance yet again” said Dinesh Thakkar, Chairman & Managing Director of Angel One.
Thakkar further added “We are delighted to share that Angel One has once again delivered a historic performance during the quarter, as we clocked our highest-ever quarterly gross client acquisition at 2.9 million, expanding our client base to over 22 million. Our clients executed over 470 million orders during the quarter, which is also our lifetime high, facilitating our best quarterly financial performance”.
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Angel One has added its highest-ever clients in a quarter at 29 lakhs, a growth of 17.2% on a QoQ basis. The client base stood at nearly 2.2 crore, a growth of 14.3% on a QoQ basis.
Angel One’s NSE active client base stood at 61 lakhs, which has gone up by 42.7% on a YoY basis, while maintaining the company’s rank at 2 with the second most active client base on NSE, according to the media release sent to the exchanges.
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Source: Stocks-Markets-Economic Times
