Stocks

ICICI Securities shares spike up 6 per cent on strong Q4 earnings

PTI New Delhi | Updated on April 22, 2021

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The company reported an over two-fold increase in PAT to Rs 329 crore in the three months ended March 2021

Shares of ICICI Securities jumped 6.5 per cent in morning trade on Thursday after the company reported an over two-fold increase in profit after tax (PAT) for the three months ended March 2021.

The stock gained 6.51 per cent to Rs 451.80 on the BSE. At the NSE, it jumped 6.45 per cent to Rs 452.

ICICI Securities on Wednesday reported an over two-fold increase in PAT to Rs 329 crore for the three months ended March 2021, on account of growth in revenue and improvement in margins.

In comparison, the company had posted a PAT of Rs 156 crore in the same quarter of the preceding fiscal, ICICI Securities said in a statement.

The company attributed the surge in quarterly profit to growth in revenue and improvement in margins.

Its revenue climbed 53 per cent to Rs 739 crore in the quarter under review, from Rs 482 crore in the three months ended March 31, 2020.

The growth in revenue was aided by a strong performance in equities and allied operations, along with distribution, private wealth management and investment banking businesses, it added.

ICICI Securities, a subsidiary of ICICI Bank, is a leading retail-led equity franchise, distributor of financial products, and investment bank.

Published on April 22, 2021

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