Angel Broking hits record high after strong Q1 numbers

Angel Broking jumped 9.31% to Rs 1160.95 after the stock broker recorded a 19% increase in consolidated net profit to Rs 121.37 crore on 13.23% rise in revenue from operations to Rs 462.67 crore in Q1 FY22 over Q4 FY21.

The stock broker's consolidated net profit increased 156.6% while revenue from operations jumped 94% in Q1 FY22 over Q1 FY21.

Total income stood at Rs 474.5 crore in Q1 FY22 as against Rs 418.9 crore in Q4 FY21, a growth of 13% QoQ. The company said income growth was aided by strong growth in client base and high client activity.

Profit before tax increased by nearly 14% quarter on quarter and 154.7% year on year to Rs 162.16 crore in Q1 FY22. EBDAT grew 14% to Rs 166.3 crore in Q1 FY22 from Rs 146.3 crore in Q4 FY21.

On the operational front, the company witnessed strong gross client addition of 1.20 million in Q1 FY22 as compared to 0.96 million clients in Q4 FY21.

Commenting on the performance, Dinesh Thakkar, chairman & MD said, Q1 FY22 has been a very strong quarter for the industry and Angel Broking, across numerous parameters. We are witnessing a greater acceptance of equities, as a vehicle of wealth creation, by more people from Tier 2, 3 and beyond cities. This gives me confidence that we are at an inflection point and the journey of high growth will sustain over the medium and long term, with Angel Broking playing a pivotal role in deepening penetration. Angel's growth is backed by our transformation into Digital First and Fintech business model, extensively using Artificial Intelligence and Machine Learning, to give our clients the best experience. As we add more products and augment our service offerings, we are redefining ourselves to Angel One from Angel Broking. In our endeavour to make investing and wealth creation simple and seamless, we plan to invest in augmenting our digital team, which will complementthe business, as we spearhead our growth initiatives.

Meanwhile, the board of directors has approved first interim dividend of Rs 5.15 per equity share.

Angel Broking is one of the largest retail broking houses in India in terms of active clients on NSE. It's a technology-led financial services company providing broking and advisory services, margin funding, loans against shares and financial products distribution to clients.

Shares of Angel Broking hit a fresh record high of Rs 1,192.35 in intraday today.

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