ICICI Securities Q1 net profit rises 13 per cent

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The broking business of the ICICI Group, ICICI Securities, revealed the net profits and revenue generated in Q1 2019. The net profit of the company for the June 2018 quarter is equal to Rs.134 crore which indicates a 13 per cent Year-on-year (YoY) increase.

Profit
The overall profits and revenue of ICICI Securities rose by 10 per cent and 8 per cent respectively.

The revenue of the company during the same year increased by 9 per cent from Rs.401 crore in Q1 2018 to Rs.436 crore in Q1 2019.

Particulars Q1 2018 Q1 2019 Percentage increase
Net profit Rs.118 crore Rs.134 crore 13
Revenue Rs.401 crore Rs.436 crore 9

 

While revenue from institutional broking and interest income rose by 22 per cent and 34 per cent respectively, revenue from broking grew by 6 per cent. Though the retail contribution in equity markets, which provides 90 per cent of the broking revenue, was less, the broking business as a whole managed to grow from Rs.227 crore in Q1 2018 to Rs.230 crore in Q1 2019.

The distribution revenue rose from Rs.99 crore to Rs.116 crore i.e. a rise by 17 per cent. The non-broking business accounts for 37 per cent of the company’s business as a whole with the corporate finance, wealth management, and distribution businesses outperforming during this quarter.

The company now has a total of 41 lakh operational accounts with 1.1 lakh new clients being added in the June quarter. ICICI Securities is one of the most successful companies in the broking sector. It has a market share of 9.2 per cent, which is an increase of 40 basis points when compared to last year’s quarter.

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