Broking income soars in Q3 amid new client additions, shows data

Listed brokerages recorded a steep rise in revenues and net profit in Q3FY21, as new customer acquisitions, coupled with surging broking fees and commissions, gave a boost to income. 

ICICI Securities saw brokerage income jump 61 per cent, while Motilal Oswal saw strong traction in cash market share and the highest ever quarterly client addition. Broking and distribution business profit grew 59 per cent YoY to Rs 77 crore, led by healthy volume growth of 98 per cent YoY and gain in market share.

For IIFL Securities, retail broking revenues stood at Rs 73 crore, up 40 per cent YoY. 

“During this unprecedented