ICICI Securities, a subsidiary of ICICI Group, Monday reported a 15 per cent decline in the consolidated profit after tax (PAT) to Rs 114 crore for the first quarter ended June 30.
In the year-ago period, consolidated PAT stood at Rs 134 crore, ICICI Securities said in a statement.
The company's total income for the quarter declined 7.7 per cent to Rs 402 crore as compared with Rs 436 crore in the April-June quarter of 2018.
"Broking business contributed 55 per cent towards the company's overall topline. While retail brokerage revenue declined by 6 per cent year-on-year, institutional business grew by 12 per cent," the firm added.
Average assets under management (AUM) of the mutual funds distributed by the company increased 7 per cent to Rs 36,800 crore in the first quarter of 2019-20, the firm said.
Shares of ICICI Securities on the BSE closed at Rs 224.90 apiece, a rise of 0.49 per cent over the previous close.