The shares of this financial services company gained 5 percent after the company announced an interim dividend of Rs. 12.70 per share and released the business updates of the company for Q2FY24.
At 10:00 a.m the shares of Angel One were trading at Rs. 2,237 up 5 percent from its previous day close price and the market capitalization of the company is 17,377 Cr.
As per the company’s filing, the board of Angel One has declared an interim dividend of Rs. 12.70 per equity share, the record date is fixed at October 20,2023 and the dividend shall be paid on or before November 10, 2023
In addition to this Angel one has released Q2FY24 business update of the company and it is as follows, it has added 2.1mn customers which is the highest in a quarter with a growth of 59.8 percent QoQ and Client base stood at nearly 17.1 mn, a growth of 13.3% on QoQ basis.
The average daily turnover grew 30.3 percent QoQ at Rs. 29.6 trillion in Q2FY24 over Rs 22.7 trillion in Q1FY24.
Consolidated total Gross Revenue grew by 29.4 percent QoQ from Rs. 8,111 mn in Q1FY24 to Rs.10,493 mn in Q2FY24.
Consolidated Profit After Tax From Continuing Operations grew by 37.9 percent QoQ from Rs. 2,208 mn in Q1FY24 to Rs. 3,045 mn in Q2FY24.
As per the financial statement of the company its revenue increased by 31.01 percent from 2,291.11 Cr in FY22 to 3,001.59 Cr in FY23, accompanied by increasing profits of 625.06 Cr to 890.19 Cr.
The company reported a return on equity (ROE) of 48.45 percent and return on capital employed (ROCE) of 44.3 percent, this indicates that the company is making very 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 38.30 percent stake, the Domestic Institutional Investors hold 10.24 percent and the Foreign Institutional Investors (FII) hold 17.04 percent.
Angel One Limited is a diversified financial services company, it is primarily engaged in the business of stock, commodity and currency broking, institutional broking, providing margin trading facility, depository services and distribution of mutual funds etc.
Written by Bharath K.S
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