The company engaged in broking and distribution of financial products saw its shares rise by 2.3% to ₹719.65 per share following the announcement of strong Q4 results, which showed a 104% increase in net profit (YoY) and a 74% rise in revenue.
At 1:05 p.m., shares of ICICI Securities Ltd were trading at ₹708.55 on the National Stock Exchange, reflecting a 0.75% increase from the previous closing price. The company currently holds a market capitalization of ₹22,915 crore.
In the fourth quarter of the fiscal year 2024 (Q4FY24), ICICI Securities posted a consolidated net profit of ₹537 crores, representing a 15% rise from the ₹466 crores reported in the previous quarter (Q3FY24). Moreover, the company’s total revenue for Q4 FY24 surged by 17%, reaching ₹1,543 crores compared to ₹1,323 crores in the same quarter of the previous year.
In the fiscal year 2023-24, the company’s consolidated net profit rose by 52% to ₹1,697 crore from ₹1,118 crore in FY22-23. Likewise, the total revenue for the same period increased by 48%, reaching ₹5,049 crores compared to ₹3,422 crores in the previous fiscal year, as indicated in the company’s filing.
On a year-on-year basis, the company’s net profit increased by 104%, rising from ₹263 crore in Q4FY23 to ₹537 crore in Q4FY24. Additionally, revenue grew by 74% during the same period, increasing from ₹885 crore to ₹1,543 crore.
ICICI Securities Limited is engaged in the business of broking (institutional and retail), distribution of financial products, merchant banking and advisory services.
The company’s distribution revenue now accounts for 12% of the total revenue. Year-over-year, mutual fund distribution revenue increased by 27%, and distributed loans amounted to ₹18.7 billion in Q4FY24, marking a 50% YoY growth.
The company’s total client base surpassed 108,000, with approximately 7,500 new clients added during the quarter. Additionally, the total assets under management (AUM) reached approximately ₹4.1 trillion, showing a 28% YoY increase and a 1% QoQ increase. Total revenue stood at approximately ₹4.9 billion, reflecting a 92% YoY growth and a 21% QoQ growth.
The company’s board of directors has approved the payment of a second interim dividend of Rs 17 per equity share.
Shares of ICICI Securities Limited have increased by 12% over the past six months and by 54% over the past 12 months.
Written by Omkar Chitnis
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