Angel One in demand after customer base jumped 146% year-on-year

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Angel One jumped 3.79% to Rs 1,167.95 after the stock broker said its client base jumped 146% year-on-year to 7.32 million in November 2021 from November 2020 .

On a sequential basis, the firm’s client base grew 5.6% from 6.93 million clients in October 2021. Gross client acquisitions amounted to 0.45 million in November 2021, up 3 , 5% compared to October 2021 and 193% compared to November 2020.

The company’s revenue market share in the overall equity segment increased to 21% in November 2021, from 15.4% in November 2020. The retail revenue market share in the M&O segment (derivatives) stood at 21.1% in November 2021 against 20.8% in October 2021. The figure stood at 15.4% in November 2020.

Angel One, formerly known as Angel Broking, is one of the largest retail brokerage firms in India in terms of active clients on NSE. It is a technology-driven financial services company that provides brokerage and advisory services, margin financing, equity loans and distribution of financial products to clients.

The company posted an 80.2% jump in consolidated net profit to Rs 134.2 crore on a 69.3% increase in total income to Rs 538.16 crore in Q2 FY22 compared to Q2 FY21. The brokerage firm’s pre-tax profit jumped 80.2% to Rs 179.31 crore in Q2 FY22 compared to Q2 FY21.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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