ICICI Securities March Quarter Profit Rises 3% To Rs 340 Crore

ICICI Securities on Wednesday reported a 3 per cent growth in profit after tax (PAT) at Rs 340 crore for the quarter ending March 31, 2022.

In comparison, the company had posted a PAT of Rs 329.47 crore in the same quarter of the preceding fiscal, ICICI Securities said in a statement.

The company posted a 21 per cent jump in revenue at Rs 892 crore in the quarter under review, from Rs 739.34 crore in the year-ago period, aided by strong all-round performance across business segments.

ICICI Securities has a client base of 76 lakh, of which over 6.2 lakh were added during the quarter.

"We are happy to report an all-round financial performance with growth in all our business segments which is a testimony to our execution capabilities," the company's Managing Director and Chief Executive Officer Vijay Chandok said.

"As we continue our journey towards becoming a digitally integrated financial marketplace, our focus will be on Diversification, operating leverage, strengthening product positioning. We will continue making investments in Next-Gen technology to build a 'future ready architecture' and in our brand as well as on building a diversified talent pool," he added.

During the quarter, 65 per cent of customers acquired were under 30 years of age (versus 62 per cent year-on-year) and 84 per cent were from tier II and below geographies (versus 80 per cent year-on-year).

The company's board has declared a final dividend of Rs 12.75 per share, amounting to Rs 24 per share for 2021-22, which is its highest-ever.

For the financial year ended March 2022, the company reported a PAT of Rs 1,383 crore, up 29 per cent from the preceding fiscal. Revenue grew 33 per cent to Rs 3,438 crore.

ICICI Securities, a subsidiary of ICICI Bank, has four lines of businesses - broking, distribution of financial products, wealth management and investment banking.