Angel One, an Indian stock brokerage firm, reported its financial results for the third quarter of 2024. The company experienced a 14% rise in its consolidated net profit for the October-December period compared to the same period in the previous year. The net profit amounted to ₹260 crore (approximately $31.38 million), driven by an increase in orders and client additions. However, the net profit decreased by 14% sequentially due to higher growth in cash segment orders, a modification in cash intraday tariff structure, and higher operating expenses (opex) associated with client acquisition.
Total revenue for Angel One grew by 41.4% to ₹1,059 crore for the fiscal third quarter, and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by about 23% to ₹398 crore. However, the company’s quarterly margin, a key measure of profitability, contracted to 37.6% compared to 43.4% a year ago.
Regarding the share price of Angel One, as of January 16, 2024, the stock was trading at ₹3,329.90 per share. The stock had shown significant growth over the past year, with a one-year return of 194.51%. However, it’s important to note that the company’s stock also experienced some volatility, as indicated by the 52-weeks volatility rate of 87%. Despite this, in the last three months, Angel One’s stock price increased by 88.2%.
The company, formerly known as Angel Broking Limited, was incorporated in August 1996 and is one of the largest independent full-service retail broking houses in India. It provides a range of financial services, including stock, currency, and commodity broking, margin trading facility, depository services, portfolio management services (PMS), and distribution of mutual funds and insurance.
