 "ICICI Securities Q1 net profit up 13% at Rs 1.34 bn on non-broking business")
ICICI Securities has posted a net profit of Rs 1.34 billion for the first quarter ended June, up 13 per cent year-on-year. Its revenues rose nine per cent to Rs 4.36 billion, with over a third of it coming from non-broking business.
“We have continued to diversify with non-broking business now accounting for 37 per cent of our overall revenue with distribution, wealth management and corporate finance businesses outperforming the overall company,” said Shilpa Kumar, managing director and chief executive officer, ICICI Securities.
ICICI Securities is the market leader in the broking segment with a 9.2 per cent market share. Its market share improved by 40 basis points in June 2018 quarter compared to over the same period a year ago.
The company’s broking revenue stood flat at Rs 2.3 billion, institutional broking business rose 22 per cent and distribution revenue grew 17 per cent to Rs 1.16 billion. Investment banking business reported 19 per cent increase to Rs 320 million.
“We have continued to diversify with non-broking business now accounting for 37 per cent of our overall revenue with distribution, wealth management and corporate finance businesses outperforming the overall company,” said Shilpa Kumar, managing director and chief executive officer, ICICI Securities.
ICICI Securities is the market leader in the broking segment with a 9.2 per cent market share. Its market share improved by 40 basis points in June 2018 quarter compared to over the same period a year ago.
The company’s broking revenue stood flat at Rs 2.3 billion, institutional broking business rose 22 per cent and distribution revenue grew 17 per cent to Rs 1.16 billion. Investment banking business reported 19 per cent increase to Rs 320 million.
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