Angel One, a leading Indian stock brokerage firm, announced a solid financial performance for Q3 2024, marking a 14% year-on-year increase in consolidated net profit to ₹260 crore. This growth was primarily driven by a surge in orders and a significant expansion in client base. Despite a 14% sequential dip in net profit due to changes in cash segment orders and increased operational expenses, the company’s revenue saw a substantial hike of 41.4% to ₹1,059 crore. EBITDA also rose by about 23% to ₹398 crore. However, the company’s profit margin contracted compared to the previous year. In the stock market, Angel One’s shares demonstrated notable performance with a one-year return of 194.51%, though it experienced considerable volatility. The share price, as of January 16, 2024, stood at ₹3,329.90, reflecting an impressive 88.2% increase over the past three months. Angel One, offering diverse financial services including stock, currency, and commodity broking, continues to hold a significant position in the Indian financial services sector.
Angel One Reports Robust Q3 Growth with 14% Rise in Net Profit Amidst Increasing Orders; Share Price Reflects Significant Yearly Gains