New Delhi: ICICI Securities, a brokerage firm, has reported a significant 66% year-on-year increase in Profit after Tax (PAT), reaching ₹465.7 crore for the three months ending December 2023. In comparison, the company had recorded a PAT of ₹280.9 crore during the same quarter in the previous fiscal year (FY23), as disclosed in a regulatory filing. The company’s revenue for the quarter stood at ₹1,323.3 crore, marking a substantial 50% year-on-year growth from ₹879.9 crore in the corresponding period of 2022. The boost in revenue is attributed to the expansion of broking income in the cash segment and the investment banking segment.
Vijay Chandok, the Managing Director and CEO of ICICI Securities emphasized the company’s growth strategy, focusing on acquiring quality clients, increasing market share in revenue-generating segments, expanding the distribution business, enhancing customer experience, and investing in franchise and technology improvements. He expressed confidence in the industry’s medium to long-term prospects.
During the three months ending December 31, 2023, the client’s assets reached ₹6.9 lakh crore, reflecting a 16% increase compared to the same period the previous year.
