Angel One Shares Soar After Strong Q4 Numbers

Shares of Angel One jumped 6% at market open on Tuesday as the company reported its earnings for the quarter ended March.

What Happened: The brokerage firm late on Monday released its earning report for the final quarter of FY23 (April 2022-March 2023). The company’s net revenue jumped 26.9% year-over-year to ₹644.2 crore. The company’s net profits grew 30.4% YoY and 17.1% sequentially to ₹267 crore. The company’s EPS for the quarter stood at ₹32/share, up 29.5% YoY.

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The firm’s total client base as of March 31, 2023 stood at 1.38 crore, up around 49% YoY. The company said that it accounts for around 12% of demat accounts in the country. The number of orders received by the stock broking housing also surged 24.6% YoY to 263 million.

The company also declared a final dividend of ₹4/share. This is in addition to the ₹9.6/share interim dividend it announced last month.

Price Action: Angel One share price surged up 6.02% to ₹1,351 at market open on Tuesday.

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Posted In: EarningsNewsDividendsTrading IdeasAngel One