5Paisa Capital posts turnaround Q3 numbers

On a consolidated basis, 5Paisa Capital reported a net profit of Rs 3.19 crore in Q3 December 2020 compared with net loss of Rs 2.16 crore registered in Q3 December 2019.

Net sales grew 84.6% year-on-year to Rs 49.61 crore in Q3 December 2020. The result was announced after market hours yesterday, 13 January 2021.

The brokerage posted a pre-tax profit of Rs 4.5 crore in Q3 December 2020 as against pre-tax loss of Rs 2.9 crore in Q3 December 2019.

5Paisa said it on-boarded more than 190,000 new clients during the quarter, taking the total number of registered customers to 11.45 lakhs in Q3 December 2020. The company's income from standalone capital market business for the quarter stood at Rs 49.4 crore, up 84% y-o-y. Total comprehensive income from the standalone business stood at Rs 3.6 crore, up 266% y-o-y. P2P lending business income for the quarter from P2P lending business, was Rs 0.2 crore.

Commenting on company's performance, Prakarsh Gagdani, CEO, of 5paisa Capital said, In the recent past, we have seen a number of new and existing players foraying the discount broking space. We have reoriented our strategy, focusing on solution for customer rather than product vending. The customer looks for solutions backed by research and support to generate superior return for his or her risk appetite. The regulatory changes of upfront margin reporting impacted trading in the month of October and normalcy returned in the later months of the quarter. Our market share in the Cash Segment was 5.61%, during the quarter, up from 5.01%.

5paisa Capital is engaged in providing financial products through its online technology platform and mobile applications. It is registered with SEBI as a stock broker, depository participant and research analyst, and with AMFI as a mutual fund distributor.

Shares of 5Paisa Capital were down 4.24% at Rs 342.05.

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