ICICI Securities' Q1 PAT up 13% to Rs 133.82-cr

ICICI Securities, the broking arm of ICICI group, today reported a 13 per cent growth in its consolidated profit after tax at Rs 133.82 crore for the first quarter ended June 30.

In comparison, the company had reported a profit after tax (PAT) of Rs 118.43 crore in the April-June quarter of 2017-18, ICICI Securities said in a regulatory filing to stock exchanges.

The company's total revenues rose to Rs 435.86 crore in the quarter under review from Rs 401.38 crore in three months period ended June 30, 2017.

On a standalone basis, ICICI Securities posted a net profit of Rs 130.6 crore and a total revenue of Rs 433.72 crore.

"We are reaping the benefits of higher operating leverage with PAT growth outpacing revenue growth.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.

"ISec is well positioned to take advantage of the macroeconomic trends of increasing financialisation and equitisation in household savings," the company's Managing Director and Chief Executive Officer Shilpa Kumar said.

ISec improved its broking revenue to Rs 230 crore in the first quarter of the ongoing financial year from Rs 227 crore in the year-ago period, besides, revenue from distribution segment grew to Rs 116 crore during the quarter under review from Rs 99 crore in the year-ago period.

During the quarter, the company added 1.1 lakh new clients, taking the number of operational accounts to 41 lakh.