Angel One net profit up 32.55%, revenue grows in Q1FY25
The brokerage firm's total client base expanded by 64.2% YoY, reaching 2.47 crore during the quarter.
Brokerage firm Angel One's consolidated net profit jumped by 32.55% YoY to Rs 292.7 crore, up from Rs 220.8 crore in Q1 FY24.
The firm also saw a 74.1% rise in consolidated revenue from operations, which soared to Rs 1,405 crore in Q1 FY25 from Rs 807 crore in the same period last year.
However, expenses nearly doubled to Rs 1,013 crore in Q1 FY25, compared to Rs 514 crore in Q1 FY24. This surge in expenses was primarily driven by rising fees and commission expenses, which typically increase with revenue, and a sharp rise in other expenses, which almost doubled to Rs 489 crore.
Notably, other expenses included significant costs related to Indian Premier League (IPL) sponsorship and associated activities, amounting to Rs 114 crore for the quarter ending June 30, 2024, and to Rs 22 crore for the quarter and year ending March 31, 2024.
Angel One has partnered with the Indian Premier League for a period of five years from 2024 to 2028.
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The firm's total client base expanded by 64.2% YoY, reaching 2.47 crore during the quarter. Additionally, its share in India’s demat accounts grew by 274 basis points, increasing to 15.2%.
"Growing client base to nearly 25 million, sustained healthy order run rate at over 460 million, high average daily turnover at nearly Rs 44 trillion, expanding share in India’s demat accounts, NSE active client base and overall retail equity turnover reflects the strength of our platform and its execution capabilities," Dinesh Thakkar, Chairman & Managing Director said in a statement.
"A testament of our product diversification is the achievement of newer milestones achieved in Mutual Fund distribution, as we registered over half a million unique SIPs in June 2024," he added.
Edited by Megha Reddy