ICICI Securities June quarter results rained on by overcast broking biz

ICICI Securities client growth moderated to 27.7 per cent to 450,000, while active customers rose only 5.3 per cent QoQ to 3.2 million

ICICI Securities’ financial performance for the June quarter was dragged down by a sharp fall in retail broking revenue, which fell 25 per cent year-on-year (YoY) and 19 per cent quarter-on-quarter (QoQ) to Rs 260 crore. The overall revenue still managed to grow 6 per cent YoY to Rs 790 crore on the back of higher-than-estimated interest income and distribution income.

Overall net profit fell 12 per cent YoY to Rs 270 crore due to an increase in employee and operating costs.

ICICI Securities’ client growth moderated to 27.7 per cent to 450,000, while active customers rose only 5.3 per