Angel Broking soars after strong business update

Angel Broking jumped 6.85% to Rs 1238.35 after the stock broker said its client base jumped 145.7% year-on-year to 6.15 million in August 2021 over August 2020.

On a sequential basis, the firm's client base grew 7.6% last month from 5.71 million in July 2021.

Gross client acquisition stood at 0.45 million in August 2021, up 150.1% over August 2020 and up 3.7% over July 2021.

Number of trades in August 2021 stood at 96.16 million, up 84.7% over August 2020. The figure was up 5.6% over July 2021.

The company's retail turnover market share in overall equity segment remained constant at 21.7% in August 2021 compared with July 2021. Retail turnover market share in August 2020 was 12.4%.

 

Retail turnover market share in F&O (derivatives) segment remained constant at 21.8%, in August 2021 as against July 2021. The figure stood at 12.2% in August 2020.

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.

The stock broker recorded a 19% increase in consolidated net profit to Rs 121.37 crore on 13.23% rise in revenue from operations to Rs 462.67 crore in Q1 FY22 over Q4 FY21. The consolidated net profit increased 156.6% while revenue from operations jumped 94% in Q1 FY22 over Q1 FY21.

Powered by Capital Market - Live News