ICICI Securities Q4 PAT up 3.28% to Rs340.28 crore following spike in employee and finance costs

20 Apr 2022 , 11:57 PM

ICICI Securities Ltd reported 20.6% growth yoy in total revenues for the Mar-22 quarter on consolidated basis at Rs891.67cr. On a sequential basis, the revenues were lower for the quarter by -5.31%.

Brokerage income fell in the fourth quarter on a sequential basis by -5.5% due to a sharp fall in retail broking volumes amidst heightened volatility. The company has also lost market share in the last few months to the low cost brokerage houses. The fees from distribution, advisory and issue management increased by 22.3% on a  yoy basis.

The consolidated net profit for Q4 was up by just 3.28% to Rs329.47cr, while the profits were lower by -10.53% on a sequential basis. The tepid growth in net profits was on account of higher finance charges for funding the ESOP and the MTF book.

The employee costs also grew by 70% yoy basis, which had an impact on the profitability in the fourth quarter of FY22. Net margins stood at 38.16% in Mar-22 quarter compared to 44.56% in Mar-21. The net profit margins were also lower by 223 basis points on a sequential basis.

Financial highlights for Mar-22 compared yoy and sequentially

	ICICI Securities
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 891.67	₹ 739.34	20.60%	₹ 941.64	-5.31%
Net Profit (Rs cr)	₹ 340.29	₹ 329.47	3.28%	₹ 380.35	-10.53%
Diluted EPS (Rs)	₹ 10.50	₹ 10.21		₹ 11.73
Net Margins	38.16%	44.56%		40.39%