ICICI Securities and Angel One in focus post-Q2; here's why

Broking companies—Angel One and ICICI Securities—have reported strong results in the quarter ending September, where both companies have logged more than 40 per cent revenue and profit year-on-year (YoY). Both companies have also recorded a tremendous increase in futures and options (F&O) average daily turnover (ADTO) and F&O orders.

Angel One's performance in Q2 

According to Zee Business Research, in Q2FY24, Angel One recorded an increase in its client base by 47.6 per cent on a YoY basis and 13.3 per cent quarter-on-quarter (QoQ). 

Its F&O orders increased 52 per cent YoY, and F&O ADTO rose 145 per cent YoY. 

The discount broking firm for the quarter ending September posted a consolidated profit of Rs 305 crore as against a consolidated net profit of Rs 214 crore in the year-ago period. Its quarterly revenue grew 40.7 per cent on a YoY 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.

Angel One share price performance 

In 2023 so far, shares of Angel One have gained over 60 per cent against Nifty50's rise of nearly 9 per cent.

ICICI Securities' financial performance in Q2

According to Zee Business Research, ICICI Securities, a part of the ICICI Group, registered a YoY growth of 39 per cent in F&O orders and a 100 per cent increase in F&O ADTO.

Further, the broking firm's revenue from all businesses grew YoY and QoQ.

Source- Zee Business research

ICICI Securities reported a 41 per cent YoY growth in profit after tax (PAT) to Rs 424 crore in the three months ended September as against Rs 300.4 crore in the year-ago period.

The total income surged 44 per cent YoY to Rs 1,249 crore in the quarter under review, from Rs 865.63 crore logged in the second quarter ended September 2022, led by growth in broking income with the cash and derivatives segment gaining momentum along with growth in the investment banking segment.

ICICI Securities share price: Past performance 

Since January, the stock has gained over 31 per cent against the headline index's rise of nearly 9 per cent.

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