Domestic broking industry's revenue growth to moderate in FY23, says ICRA

The revenue growth for the domestic broking industry could moderate from around 30 per cent in FY22 to 5 per cent in FY23, said the rating agency, ICRA, in a report.

For the ongoing fiscal year, the industry is expected to clock record revenues of Rs 28,000 crore, which will be around 30 per cent higher than those in FY21. The growth rate, however, will drop to mid-single digits next financial year.

“We expect the markets to remain volatile, going forward, amid various domestic and international cues. While the transaction volumes have reported a month-on-month growth, primarily led by the