Angel One Q3 PAT jumps 39% YoY to Rs 228 cr

The brokerage company's consolidated net profit (from continuing operations) surged 38.53% to Rs 228.04 crore on 25.5% jump in total income to Rs 759.66 crore in Q3 FY23 over Q3 FY22.

As compared with Q2 FY23, Angel One's net profit and total income were higher by 6.75% and 1.84%, respectively.

Consolidated earnings before depreciation, amortization, & taxes (EBDAT) in Q3 FY23 was at Rs 309.9 crore, up by 6.8% from Rs 292.6 crore recorded in Q2 FY23. EBDAT margin (as % of net income) stood at 53.9% in Q3 FY23.

Angel One continued to witness strong gross addition of approximately 1 million clients in Q3 FY23, crossing 12.5 million mark in total client base during the quarter. Total client base was 12.5 million in Q3 FY23, up 8.1% QoQ and 60.7% YoY.

Average daily turnover (ADTO) was Rs 14,50,000 crore in Q3 FY23 (up 19% QoQ and up 108.4% YoY).

Meanwhile, the board of directors have recommended dividend of Rs. 9.60 per equity share, as a third interim dividend, equivalent to 35% of consolidated profit after tax, for the quarter.

The firm stated that the record date for determining eligibility of shareholders for payment of the said interim dividend, as declared by the board of directors shall be Tuesday, 24 January 2023.

Dinesh Thakkar, chairman MD said, India's Capital Market created a milestone as the total demat base grew to over 108 million as of December '22. India's young demography strongly favours technology assimilation, and Angel's digital products and engagement tools position us well to cater to them. Through our Super App, we strive to be long-term collaborators in their wealth creation journey, and service all their financial needs through an expanded product bouquet. I am happy to see positive results of our digital strategy, and strongly believe we are well positioned to garner a larger market share of this expanding market.

Narayan Gangadhar, chief executive officer said, Angel is amongst the few players to witness consistent growth, both operationally and financially. We continue to gain market share in total demat accounts, to 11.6%; achieved 12.0% share in NSE active clients and are firmly amongst the top 3 largest new-age digital brokers in India; reported our highest quarterly ADTO with steady orders and turnover market share. Angel is the largest publicly traded, fully digital stockbroker in the country.

Gangadhar further added, During the quarter, we initiated roll out of the Android version our Super App, to the first batch of our clients. The App recorded 100% uptime, which not only added to the overall experience, but also led to better Playstore rating and higher NPS. We instituted Mutual Fund services, on iOS, Android and Web platforms. This marks the commencement of the App transitioning to a True Super App. Our superior product offering and best in class client experience, makes Angel a trusted partner for our clients.

Angel One is the largest listed retail stock broking house in India, in terms of active clients on NSE. The company provides broking and advisory services, margin funding, loans against shares and distribution of third-party financial products to its clients. The broking and allied services are offered through online and digital platforms and network of authorized persons.

Shares of Angel One were up 0.01% to Rs 1,315.60 on the BSE.

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