Home Financials Angel One’s stock price jumps more than 8.5% due to outstanding Q4 performance.

Angel One’s stock price jumps more than 8.5% due to outstanding Q4 performance.

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Angel One’s share price

Angel One’s share price climbed 8.70% to ₹3100 per share following a Q4FY24 net profit of ₹340 crore. The quarter also saw the addition of 2.9 million clients, processing of 471 million orders, and securing an 18% retail turnover market share.

Angel One, a leading retail full-service broking firm in India, witnessed a notable 8.70% increase in its share price during early morning trade today, hitting ₹3,100 per share, after unveiling its Q4FY24 performance report on Wednesday.

In Q4FY24, the company posted a ₹340 crore net profit, marking a significant 31% quarter-on-quarter (QoQ) rise and a 27.3% year-on-year (YoY) improvement. Additionally, its Q4FY24 total revenue from operations saw a 28% QoQ increase and a 64.28% YoY surge, reaching ₹1,357 crore.

During the quarter, Angel One achieved its highest-ever client addition, with 2.9 million new clients. As of March 2024, the company’s client base reached 22.2 million, showing a significant 14.3% QoQ increase and 61.5% YoY growth.

In transactions, Angel One processed 471 million orders in 4QFY24, a 79% YoY rise. Its average daily turnover (ADTO) rose to ₹44.4 trillion in Q4 FY24, up by 23.3% QoQ and 139% YoY.

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Angel One secured 18% of the retail turnover market share in Q4FY24, an 83-basis point QoQ improvement as per its exchange filing.

Ranked No. 2 in Incremental NSE Active Clients, Angel One’s share in NSE Active Clients grew to 15% during the quarter, up by 188 basis points YoY. Moreover, its share in the country’s demat accounts stood at 14.7% at the end of March, reflecting a noteworthy increase of 266 basis points YoY.

Mr. Dinesh Thakkar, Chairman & Managing Director, commented on Angel One’s performance, stating, “Angel One has always prioritized innovation to uphold its unwavering commitment to client-centricity. Throughout our journey, we’ve achieved numerous milestones and earned our clients’ trust.”

He continued, “FY24’s performance reflects this ethos, with yet another historic achievement. We’ve established a robust client base with steadfast behavioral traits, contributing to consistent annual revenues. Recently, we concluded a ₹15 billion capital raise to fuel future growth.”

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