BUSINESS

ICICI Securities Q2 PAT Up 26% to Rs 351 Crore

On Tuesday, ICICI Securities reported a 26 per cent jump in profit after tax to Rs 351 crore in 3 months ended September 2021 on account of growth in revenue and improvement in margins.

In comparison, the company had posted a profit after tax (PAT) of Rs 278 crore in the same quarter preceding fiscal, ICICI Securities, a subsidiary of ICICI Bank, said.

The company’s revenue rose to Rs 857 crore in the second quarter ended September 30, 2021, from Rs 680 crore in the same period preceding the financial year.

The company has attributed the growth in revenues to strong all-around performance across business segments.

“Our strategy of broad basing our customer acquisition engine is paying off, and I am happy to report highest ever quarterly customer addition yet again this quarter,” ICICI Securities Managing Director and Chief Executive Officer Vijay Chandok said.

During the quarter, younger millennials and Gen Z accounted for 65 per cent of new customers (vs 39 per cent a year ago) and those from tier II and below cities are now 84 per cent of new customers (67 per cent last year), he added.

The board has declared an interim dividend of Rs 11.25 per share in the quarter under review as compared to Rs 8 in the second quarter of the financial year 2020-21.

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