5paisa Capital rises as Q1 PAT increases 2.6% YoY

5paisa Capital rose 1.33% to Rs 296.50 after the company's consolidated net profit rose 2.6% to Rs 7.39 crore on 38.01% increase in total income to Rs 84.06 crore in Q1 FY23 over Q1 FY22.

Profit before tax in Q1 FY23 stood at Rs 10.11 crore, up 2.6% from Rs 9.85 crore reported in Q1 FY22.

Total expenses increased 44.9% year on year to Rs 73.95 crore during the quarter. Employee cost stood at Rs 14.2 crore (up 53% YoY), advertising and marketing expenses was reported at Rs 18.6 crore (up 17% YoY) and finance cost was at Rs 5.5 crore (up 20% YoY).

The company on-boarded more than 2,28,000 new clients during the quarter, taking the total number of registered customers to 29.6 lakh. The 5paisa Mobile App had more than 13 million downloads at the end of the quarter with a 4.2 Star rating on Playstore. The company's income from standalone capital market business for the quarter stood at Rs 84 crore, down 5% q-o-q and up 38% y-o-y. Total comprehensive income from the standalone business stood at Rs 7.5 crore, up 53% q-o-q and 1% y-o-y. At consolidated level, total income has grown by 38% y-o-y and operating expenses increased by 45% y-o-y, resulting in total comprehensive income of Rs 7.3 crore for the quarter.

Prakarsh Gagdani, whole-time director and CEO of 5paisa Capital commented, Q1FY23 witnessed subdued retail participation which also impacted our overall income. In current quarter we focused on improving quality of acquisition and also optimized cost which has resulted 68% growth (QoQ) in Profit before tax. We will be continuing improvement in product development, cost optimization & customer experience for providing best investment and trading platform to accelerate our revenue and profitability.

5paisa Capital is engaged in providing financial products through its online technology platform and mobile applications. It is registered with SEBI as a stock broker, depository participant and research analyst, and with AMFI as a mutual fund distributor.

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