ICICI Securities' second quarter results: Profit Increases 41%; Interim Dividend Approved

17 Oct 2023 , 11:56 AM

The net income of ICICI Securities Ltd. increased along with its net profit for the quarter that ended in September. 

According to its Monday exchange statement, the brokerage’s net profit increased 41.53% to Rs 423.83 crore for the September quarter. According to analyst forecasts compiled by Bloomberg, the company was anticipated to make a net profit of Rs 307.6 crore.

In the reviewed quarter, the company’s net income increased by 44% to Rs 1,248.51 crore. 

According to the investor presentation, the average MTF and fixed deposit yields increased during the second quarter, which contributed significantly to the increase in interest income of 70.7% to Rs 3,880.3 million. 

Equity segment revenue increased by 51% year over year, while derivative segment revenue increased by 43%.

The payment of an interim dividend was also agreed by the board of directors. ‘Payment of interim dividend of Rs 12 per equity share of face value of Rs 5 each to the shareholders of the company,’ the announcement read. 

The interim dividend’s record date is slated for October 27, 2023. With a focus on revenue across major business categories and recruiting great clients, the company continues to grow steadily.

Ankit Sharma, the organization’s head of compliance and legal, will step down on December 7 of this year, it was also announced on Monday. 

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