17 Jan 2024 , 12:33 PM
According to the quarterly results announced on January 16, ICICI Securities posted a standalone net profit of Rs 465 crore for the quarter ended December 2023, a 67% increase over the same time last year.
The company’s standalone revenue from operations was Rs 1,322 crore during the quarter under review, which is 50% more than the same time in the previous fiscal year.
The company is in the process of delisting. ICICI Securities stated that during the quarter, the business got no objection letters from the National Stock Exchange of India (NSE) and a letter from BSE Limited (BSE) dated November 28, 2023.
This allows the brokerage firm to submit its plan with the National Company Law Tribunal (NCLT). The Scheme is subject to the necessary approvals from the company’s and holding company’s shareholders and creditors, the NCLT, and other regulatory and legislative authorities.
The company’s net profit margin for the nine months ended December 2023 was 33.09%, which was consistent with the margin for FY23. The operation margin for the nine months ended December 2024 was 44.43%, which was also broadly consistent.
It further stated that its profits per share for the first nine months had been extremely close to the EPS for the whole fiscal year 23. ICICI Securities reported an EPS of Rs 33.75, compared to a 12-month EPS of 34.54.
At around 12.34 PM, ICICI Securities was trading 3.46% lower at Rs 756.85, against the previous close of Rs 784 on NSE.
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