Angel One clocks 55.5% jump in subscriber base in Q3; shares soar to record high

Angel One shares surged to an all-time high on Thursday after the brokerage said its subscriber base grew 55.5 per cent on a year-on-year basis in the quarter ended December 31. The stock of Angel One rose by as much as Rs 267.4, or 7.7 per cent, to Rs 3,749 apiece on BSE, surpassing an earlier peak reached on Tuesday.

Minutes ahead of the opening bell on Thursday, the broking company, in a quarterly business update, said its subscriber base increased 55.5 per cent to 1.94 crore at the end of December December 2023 from Rs 1.25 crore at the end of December 2022.

Here are some other highlights of Angel One's Q3 business update: 

-The company's orders increased in Q3 by 54.7 per cent to Rs 35 crore against Rs 10.72 crore year-on-year (YoY)

-Average client funding book in Q3 grew 31.3 per cent to Rs 1,859 crore against Rs 18.55 crore (YoY)

-Average daily orders in Q3 increased by 57.3 per cent to 58.4 lakh as compared to Rs 536 lakh (YoY)

- Month-on-month (MoM) the company's subscribers increased by 5.4 per cent, the number of orders increased by 28 per cent, and average daily orders increased by 28 per cent. On the other hand, the average client funding book fell 0.9 per cent MoM

-Companys' Average daily turnover (ADTO) stood at Rs 3597.1 crore which was up 148.5 per cent YoY

-Retail turnover market share in equity stood at 26.8 per cent against 21.5 per cent YoY

Angel One share price: Past performance

Angel One has grown more than 171 per cent in a year, sharply outperforming a 19 per cent rise in the headline Nifty50 index. 

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.