The shares of this financial services company rose 5 percent from previous day close price and hit its 52 week high price after it announced a robust Q2 business update and declared an interim dividend of Rs. 12 per equity share.
At 10:45 a.m the shares of ICICI Securities Limited were trading at Rs. 648 up 2.60 percent from its previous day close price and the market capitalization of the company is 20,992 Cr.
As per the company’s filing, ICICI Securities has given a robust Q2FY24 business update and it is as follows
ICICI Securities revenue grew 34 percent QoQ from 934 crores in Q1FY24 to 1,249 crores in Q2FY24 and it grew 44 percent YoY from 865 crores in Q2FY23 to 1,249 crores in Q2FY24.
Its net profit grew 56 percent QoQ from 270 crores in Q1FY24 to 423 crores in Q2FY24 and it grew 41 percent YoY from 300 crores in Q2FY23 to 423 crores in Q2FY24.
In addition to this it has declared an interim dividend of Rs. 12 per equity share, the record date is fixed at October 27, 2023 and the interim dividend will be paid on or before November 15, 2023.
As per the company’s financial statements its revenue decreased by 0.56 percent from 3,434.98 Cr in FY22 to 3,415.75 Cr in FY23, accompanied by decreasing profits of 1,382.6 Cr to 1,117.63 Cr.
The company reported a return on equity (ROE) of 39.18percent and a return on capital employed (ROCE) of 59.54 percent, this indicates that the company is making good returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 74.79 percent stake, the Domestic Institutional Investors hold 6.21 percent and the Foreign Institutional Investors (FII) hold 10.06 percent.
ICICI Securities Limited is engaged in the business of broking, distribution of financial products, merchant banking and advisory services.
Written by: Bharath K.S
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