ICICI Securities on Wednesday reported a 36 per cent increase in consolidated revenue at ₹546 crore for the first quarter of FY21 against ₹402 crore reported in the same period year-ago. Consolidated profit after tax jumped 70 per cent at ₹193 crore, (₹114 crore) on account of growth in revenue, improvement in margins and changes in statutory tax rates, the company said in a release.

I-Sec has a client base of 4.9 million, of which about over 80,000 were added during the quarter. I-Sec has moved to completely digital account opening process from mid-April and the run rate for new account opening has been steadily increasing with the June 2020 numbers being higher than June 2019 numbers, it added.

The retail equities and allied business revenue jumped 70 per cent to ₹354 crore (₹209 crore). Institutional equities revenue during the quarter rose 14 per cent to ₹35 crore on account of increased traction in block deals, I-SEC said in the release..

The company has over 1.5 million active clients (those having traded in the past 12 months) and over 1.1 million NSE active clients (those having traded on the NSE in the past 12 months), up 15 per cent and 27 per cent y-o-y , respectively.

Vijay Chandok, Managing Director and Chief Executive Officer, said: “We had an eventful quarter in which we saw increased market participation by all players – retail, HNIs and institutional, resulting in strong growth in our core equities, as well as wealth and investment banking business. Our distribution business was however soft as sentiments remained weak in debt funds and SIP inflows slowed down with investors preferring to conserve cash during these uncertain times”.

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