Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Markets / Stock Markets/  Angel One share price surges over 8.5% on stellar performance in Q4
BackBack

Angel One share price surges over 8.5% on stellar performance in Q4

Angel One's share price surged by 8.70% to reach ₹3100 per share after reporting a net profit of ₹340 crore in Q4FY24. The company added 2.9 million clients, processed 471 million orders, and achieved 18% retail turnover market share in the same quarter.

Angel One's average daily turnover (ADTO) surged to ₹44.4 trillion in Q4 FY24, showcasing a 23.3% QoQ jump and a 139% surge YoY. (Pixabay)Premium
Angel One's average daily turnover (ADTO) surged to 44.4 trillion in Q4 FY24, showcasing a 23.3% QoQ jump and a 139% surge YoY. (Pixabay)

Angel One, a prominent retail full-service broking firm in India, experienced an impressive surge of 8.70% in its share price in today's early morning trade, reaching 3,100 apiece, following the release of its Q4FY24 performance report on Wednesday.

The company reported a net profit of 340 crore in Q4FY24, reflecting a notable 31% quarter-on-quarter (QoQ) increase and a 27.3% year-on-year (YoY) improvement. Furthermore, its total revenue from operations for Q4FY24 witnessed a growth of 28% QoQ and a 64.28% YoY surge, reaching 1,357 crore.

Also Read: Infosys Q4 results preview: Here is what market expects from Indian IT major

During the quarter, Angel One achieved its highest-ever client addition, welcoming 2.9 million clients. As of March 2024, the company's client base had expanded to 22.2 million, marking a significant 14.3% increase in QoQ and 61.5% growth YoY.

In terms of transactions, the company processed 471 million orders in 4QFY24, representing a 79% YoY increase. Its average daily turnover (ADTO) surged to 44.4 trillion in Q4 FY24, showcasing a 23.3% QoQ jump and a 139% surge YoY.

Angel One also demonstrated its strength in the retail turnover market share, securing 18% in Q4FY24, marking an 83-basis point improvement in QoQ, as indicated in the company's exchange filing.

Also Read: Multibagger Stock: KPI Green Energy zoomed over 200% in less than six months

Maintaining its position as No. 2 in Incremental NSE Active Clients, the company's share in NSE Active Clients grew to 15% during the quarter, marking a 188-basis point growth YoY. Furthermore, Angel One's share in the country's demat accounts at the end of the March quarter stood at 14.7%, representing a noteworthy increase of 266 basis points YoY.

Commenting on Angel One’s performance, Mr Dinesh Thakkar, Chairman & Managing Director, said," Angel One has always focused on innovation to fulfil its unwavering commitment to client-centricity. In the journey we have traversed, Angel One has achieved many milestones and garnered trust from its clients. 

Also Read: Will Indian stock market see further sell-off amid delay in US Fed rate cuts? Here's what experts say

"FY24’s performance resonates the same, as we delivered a historic performance yet again. We have built a solid roster of clients with strong behavioral traits, who not only transact with us but also advocate for us, with each cohort consistently giving us revenues every year. We recently completed a capital raise of 15 billion to capitalize on the business for future growth," he further added.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 18 Apr 2024, 10:06 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started