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SBI Securities has reported 32 per cent increase in net profit at ₹308 crore in the financial year ended March, against ₹233 crore logged in the same period last year.
Revenue was up 45 per cent at ₹1,203 crore (₹831 crore).
Looking at a five-year horizon, the net profit has grown more than three times since FY17 and income more than doubled on the back of strategic initiatives, innovative product offerings and a robust business model.
Deepak Kumar Lalla, Managing Director, SBI Securities, said the focus on delivering value to clients through a range of investment solutions and enhancing trading experience by leveraging technology has helped to deliver better performance.
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SBI Securities is adding more investment avenues to increase its bouquet of products while focusing on client activation, leading to a projected 25 per cent increase in profitability in the coming year, he said.
SBI Securities’ digital platforms have helped it reach a wider audience of 3.6 million clients, including 1.1 million clients in FY23.
The company has launched several new and unique investment products, including mutual fund packs and options arena, which have been well received by clients.
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