Leading stock broking firms ICICI Securities and Angel One reported mixed numbers with equity markets hitting a new high on the back of active participation by retail investors.

As ICICI Securities PAT up just marginally, the stock slumped 5 per cent while Angel One’s shares jumped 18 per cent, thanks to strong set of numbers.

ICICI Securities’ net profit in the March quarter was up at just 3 per cent ₹340 crore (₹329.47 crore) on revenues of ₹892 crore (739 crore). The fees and commission earned by the broking firm was up at ₹670 crore (₹629 crore) even as broking income slipped to ₹373 crore (₹394 crore).

Cash segment weak

Dnyanada Vaidya, Research Analyst, Axis Securities, said broking revenues of ICICI Securities took a hit owing to weak cash segment volumes along with the issuer and advisory business, which was affected by the geopolitical tension resulting in delay in issues. However, an increase in distribution business supported the growth, he said.

Meanwhile, Angel One reported that its net profit in the March quarter more than doubled to ₹205 crore against ₹102 crore in the same period last year on the back of rise in commission earned.

The broking firm’s revenue jumped to ₹685 crore (₹419 crore) as the income from fees and commission increased to ₹574 crore (₹349 crore). It had added 15 crore new clients in the March quarter.

Dinesh Thakkar, Chairman and Managing Director, said the broking firm commands over 10 per cent active market share.

With all industry statistics progressively leaning towards new-age digital businesses, a large pie of incremental clients is being added by the top-5 digital brokers, he added.