Choice International consolidated PAT rises 231% yoy in Q3; Stock gains 2%

9 Feb 2022 , 09:56 AM

Choice International Limited has announced its results for quarter and period ending December 31, 2021.

Consolidated 9M FY22 Financial Highlights

• Revenue Growth of 55.7% yoy to Rs192.6cr
• EBITDA growth of 94.6% yoy to Rs65cr; Margins expanded to 33.7% from 27.0%
• Net Profit growth of 167.1% yoy to Rs38.2cr; Margins of improved to 19.8% from 11.6%
• Revenue share of 60.7% from B2C financial services, 15.4% from NBFC and housing finance, 21.3 % from Advisory Services and 1.4% from Technology services

Consolidated Q3 FY22 Financial Highlights

• Revenue Growth of 45.3% yoy to Rs67.7cr
• EBITDA growth of 146.2% yoy to Rs22.4cr; Margins expanded to 33.1% from 19.5%
• Net Profit growth of 231.7% yoy to Rs13.6cr; Margins improved to 20.1% from 8.8%

Commenting on the initiative, Kamal Poddar, Managing Director said: “We continued our stellar performance during the quarter with a topline growth of around 45% and more than tripling of PAT. This robust performance was broad based across our business segments with equity broking and insurance segments being the major drivers.

Our total demat accounts increased by 47% during the 9 months period since March 2021, this was supported by our customer acquisition through digital channels and network of choice business associates during the year. We expanded the network of our business associates by onboarding over 5,000 new associates during the year. We have done reorganization in our NBFC entity and scheduled to launch our first digital lending products by April 2022.

Our B2B segment also continued to grow. During the last nine months, our Government advisory team has bagged projects worth more than INR 210 Million across various states including Rajasthan, West Bengal and Maharashtra.

Our strategic objectives are aligned with growth of financial sector in the underpenetrated markets of India, and we are confident of contributing to the Country’s goal of enhancing financial inclusion.”

At around 9:54 AM, Choice International was trading at Rs186 apiece up by Rs3.5 or 1.92% on the BSE.