Angel Broking gained 2.76% to Rs 1,435.05 after the company posted an 80.2% jump in consolidated net profit to Rs 134.2 crore on a 69.3% increase in total income to Rs 538.16 crore in Q2 FY22 over Q2 FY21.
The stock broking company's profit before tax jumped 80.2% to Rs 179.31 crore in Q2 FY22 over Q2 FY21. The company said that the income growth was aided by strong client addition.EBDTA for Q2 FY22 stood at Rs 183.9 crore, rising 10.6% quarter on quarter and 76.3% year on year. EBDTA margin (as % of net income) remained stable at 47.4%.
The company witnessed robust gross addition in client base by 1.3 million clients in Q2FY22 as compared to 1.2 million clients in Q1FY22.
Narayan Gangadhar, chief executive officer of the company said, For the 2 nd consecutive quarter, we acquired more than 1.2mn clients which demonstrates our robust processes, strong performance marketing, backed by our efficacious technology & product suite. With this, our total client base expanded to 6.5 mn clients. Growing client base, and a corresponding increase in active client base, led to continued improvement in our operating and financial metrics. We have expanded our product and technology talent base. Our focus will be on modernizing systems, leveraging cloud capabilities, enhancing product reliability, security and attaining shorter time to market, while also using advanced artificial intelligence, machine learning and data science techniques to build our next-gen Super-App with personalized journeys.
The board of directors recommended a second interim dividend of Rs 5.70 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.
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