Angel Broking records highest ever quarterly PAT at ₹74.6 crore in Q2

Our Bureau New Delhi | Updated on October 27, 2020

Angel Broking, which recently got listed on the bourses, has reported its highest ever quarterly profit after tax (PAT) at ₹74.6 crore for the second quarter ended September 30, 2020. This is substantially higher than the net profit of ₹48.3 crore recorded in the first quarter this fiscal and ₹18.9 crore in the second quarter of last fiscal.

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Total income for the quarter under review stood at ₹317.9 crore, up 29 per cent over total income of ₹246.6 crore in the previous quarter. The board of directors has recommended a second interim dividend of ₹4.15 per equity share of ₹10 each.

Commenting on the performance, Dinesh Thakkar, CMD, Angel Broking, said: “Over the past 18 months, we have witnessed an exponential growth which is backed by our digitally powered business. With the use of technology we witnessed a multi-fold addition in clients, where one out of every seven incremental demat accounts was opened with Angel Broking, led by seamless experience across our digital platforms”.

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On the NSE, Angel Broking is currently the fourth largest in terms of active clients and third largest in incremental addition of active clients in the first half of 2020-21. “We remain confident of continuing the growth momentum in the quarters to come,” Thakkar said.

Vinay Agrawal, CEO, said in a statement: “We continue to gain significant marketshare across all segments. Our average daily turnover has grown by 107 per cent to ₹1,28,100 crore in Q2 this fiscal. We will continue to fuel our growth through our digital first and client centric approach, thereby having a sustainable and suitable model.”

Angel Broking saw robust net addition in its client base, which grew 59 per cent to 539,567 clients in Q2 FY21 from 339,573 clients in Q1 FY21.

Published on October 27, 2020

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