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ICICI Securities has reported that its consolidated net profit in the December quarter was up 42 per cent to ₹380 crore against ₹267 crore logged in same period last year, largely on strong growth across business.
Its revenue increased 52 per cent to ₹942 crore. Cost to income ratio stood at 46 per cent in the quarter under review. ICICI Securities has a client base of 70 lakh, of which, over 6.8 lakh were added in the quarter, which is the highest ever addition in a quarter for the sixth time in a row. About 81 per cent of new customers added were from non-ICICI Bank channels.
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In the best performing quartile of stocks since 2010, more than half are ‘market leaders’The company has over three million active clients (up 89 per cent). Total client assets were up 64 per cent at ₹5.6 lakh crore.
ICICI Securities is the second largest non-bank MF distributor by revenue and assets. Its MF revenues grew 54 per cent to ₹97 crore on the back of SIP count rising 44 per cent to 1 million as of December-end.
‘Investing in next gen’
Vijay Chandok, Managing Director, ICICI Securities, said the company has identified several underserved pockets, including young professionals and new entrants to the job market, retirees and NRIs.
To win them over, ICICI Securities has sharpened its delivery and overall value proposition, he said.
“We are investing in next gen skill sets, tools, platforms and capabilities, through which we are able to offer highly customised solutions matching an investor’s risk appetite and goals,” he added.
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