Shares of Angel One surged over 8% to Rs 2,980 on the NSE after the company reported its best-ever quarterly performance across key financial metrics for the three-month period ended September 30, 2024.
Angel One reports best-ever quarter
On Monday, the domestic brokerage announced a consolidated net profit of Rs 423 crore for Q2FY25, marking a 39% increase from Rs 304 crore in the same period last year. Total revenue from operations for the quarter stood at Rs 1,515 crore, a 44.5% rise compared to Rs 1,048 crore in the year-ago period.
Sequentially, profit after tax (PAT) rose by 45% from Rs 293 crore in Q1FY25. The company’s consolidated total gross revenue for Q2FY25 reached Rs 1,516 crore, reflecting a 7.5% growth from Rs 1,410 crore in the previous quarter.
Consolidated EBITDA for Q2FY25 was reported at Rs 598 crore, a 42.5% increase compared to Rs 419 crore in Q1FY25. The EBITDA margin, as a percentage of total net income, stood at 49.9% in Q2FY25.
Client Base & Increased Average Daily Turnover Jumps
Angel One also added 30 lakh new clients during the quarter, a 15.9% growth on a quarter-on-quarter (QoQ) basis, bringing its total client base to 27.5 million, an 11.2% increase QoQ.
Additionally, the company’s Average Daily Turnover (ADTO) on a notional basis stood at Rs 45.4 lakh crore in Q2FY25, a 3.7% rise from Rs 43.8 trillion in Q1FY25.
Technical Outlook on Angel One Stock
Commenting on the technicals Anshul Jain, Head of Research, Lakshmishree Investment & Securities said that Angel One has given a strong bullish breakout from an 86-day cup and handle pattern, signaling a potential uptrend. The stock gapped up above the breakout level of Rs 2,800, backed by rising volumes near the neckline, indicating investor confidence. If it sustains above this level, Angel One could test Rs 3,250 in the near term.
Jain also added that the broader financial sector’s bullish momentum is providing a tailwind, further supporting the breakout. Despite lower volumes during the base formation, the stock is generating alpha, showing strength against the market and attracting traders’ attention.
Stock Performance in Last One Year
Angel One shares have delivered positive returns across various time frames. Over the last month, the stock has shown a positive return of 18.45%, indicating short-term growth. In the last three months, the performance has been even more impressive, with a substantial increase of 27.51%, showcasing the stock’s resilience and upward momentum.
The six-month returns have surged by 2.43%, emphasizing the stock’s positive trajectory in the current calendar year. Looking back over the last twelve months, the stock has demonstrated significant growth, surpassing 41%. These consistent positive returns underscore the stock’s strong performance and appeal to investors.
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