ICICI Securities Q1 PAT soars 94% YoY to Rs 527 cr

The broking firm's consolidated net profit zoomed 94.55% to Rs 526.91 crore in Q1 FY25 as against Rs 270.84 crore recorded in Q1 FY24.

Total income was at Rs 1,644.11 crore in the quarter ended 30 June 2024, registering a growth of 75.95% year on year (YoY).

Profit before tax soared 94.18% to Rs 707.53 crore in Q1 FY25, up 94.18% from Rs 364.37 crore reported in Q1 FY24.

Interest income was at Rs 582.59 crore in Q1 FY25, up 89.3% YoY, due to increase in average MTF funding and fixed deposit book.

Brokerage income soared 81.48% YoY to Rs 622.29 crore in the June quarter, primarily due to increase in equity & derivative volumes.

During the quarter, retail broking and allied revenue grew 92% YoY due to increase in cash volumes and growth in equity allied business.

The distribution business reported revenues of Rs 175.7 crore for the quarter, up 10.71% YoY.

Institutional broking and allied revenue business during the quarter was at Rs 116.2 crore, registering a growth of 110.88% YoY.

The companys Issuer Services & Advisory revenue stood at Rs 126.8 crore in Q1 FY25 which is steeply higher than Rs 36.2 crore recorded in Q1 FY24.

ICICI Securities (I-Sec) is a subsidiary of ICICI Bank. Through its four lines of businesses -- broking, distribution of financial products, wealth management and investment banking-- I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.

The scrip shed 0.13% to Rs 776.80 on the BSE.

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