Shares of Angel One Ltd gained 6.43% on Tuesday’s early trades after the stock broking firm continued its strong quarterly performance. Its share price reached an intraday high of ₹ 1358.85 apiece, against Monday’s closing share price of ₹ 1276.80 apiece on the National Stock Exchange (NSE).
At 1:15 PM, the company’s shares were trading at ₹ 1311.60 apiece, up 2.73%.
Revenue
On a consolidated basis, Angel One recorded revenue of ₹ 831.1 crores in the March quarter of the financial year 2022-23, against ₹ 759.7 crores in the September quarter, indicating an increase of 27.7% quarter on quarter QoQ.
Its topline came in at ₹ 3021.1 crores in the financial year 2022-23 against ₹ 2297.1 crores in the financial year 2021-22, indicating a growth of 31.5% year-on-year (YoY).
Profit
The company’s profit after tax from continuing operations came in at ₹ 267.0 crores in the latest quarter, against 228.0 crores in the September quarter, indicating an increase of 17.1% quarter on quarter QoQ.
It reported a profit of ₹ 890.2 crores in the financial year 2022-23 against ₹ 625.1 crores in the financial year 2021-22, indicating a growth of 42.4% year-on-year (YoY).
Dividend
The broking house’s board of directors have recommended a dividend of ₹ 13.6 per equity share of ₹ 10 each, as a combination of interim and final dividend, equivalent to 43% of consolidated profit after tax for the quarter.
In another development, the company appointed Amit Majumdar as the Executive Director- Strategic Initiatives. He will be responsible for further strengthening Angel One’s
position in the fintech industry and accelerating its growth.
Angel One, formerly known as Angel Broking Ltd is one of the largest retail stock broking houses in India, in terms of active clients. It provides advisory services, margin
funding, loans against shares and distribution of third-party financial products to its clients. Moreover, it extensively uses artificial intelligence, machine learning and data science to create a superior digital experience.
Angel One is a small-cap stock with a market capitalization of ₹ 10651 crores. It has a high return on equity of 46.04% and a high dividend yield of 3.01%. Its shares were trading at a price-to-earnings ratio of 13.09, which is significantly lower than the industry P/E of 24.60, indicating that the stock might be undervalued as compared to its peers.
Written by Simran Bafna
