Angel One hits all-time high as brokerage woos investors with strong Q2 show
At 10 am, discount broking firm Angel Ones shares held on strongly to the green, with a gain of 5.9 per cent at Rs 2,227.6 apiece on the bourse, continuing to rise for the fourth trading session in a row.
Angel One shares surged to a record high on Friday on the back of the brokerage house’s strong financial performance in the second quarter of the current financial year. The stock of Angel One strengthened by as much as Rs 146.4, or seven per cent, to Rs 2,250 apiece on BSE, surpassing a peak registered the previous day and adding to a series of all-time highs registered this month.
At 10 am, discount broking firm Angel One’s shares held on strongly to the green, with a gain of 5.9 per cent at Rs 2,227.6 apiece on the bourse, continuing to rise for the fourth trading session in a row.
How did Angel One fare in Q2?
After market hours on Thursday, the company posted a consolidated profit of Rs 305 crore for the quarter ended September 30, 2023, as against a consolidated net profit of Rs 214 crore for the corresponding period a year ago. Its quarterly revenue grew 40.7 per cent on a year-on-year basis to Rs 1,048 crore, according to a regulatory filing.
Angel One registered Rs 443 crore in earnings before investment, tax, depreciation, and amortisation (EBITDA) for the quarter under review, marking a jump of 40.1 per cent compared with the year-ago period.
Its margin was unchanged as last year, at 42.2 per cent.
The company’s board declared a second interim dividend, of Rs 12.7 per share, for the financial year 2023-24.
Angel One said it added 2.1 million clients in the three-month period, its highest-ever client addition in any quarter, taking its total client base to 17.1 million at the end of September 2023.
In a business update last week, the brokerage said its client base grew 47.6 per cent on a year-on-year basis to 17.1 million in the quarter ended September 2023. Its average daily orders surged 47.4 per cent to 5.4 million.
Angel One share price: Past performance
In 2023 so far, Angel One shares have grown over 69 per cent in value, sharply outperforming a gain of eight per cent in the headline Nifty index.
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