Angel One, a leading retail full-service broking firm, saw 8.70% increase in its share price during early morning trade today, reaching Rs 3,100 per share, propelled by the release of its Q4FY24 performance report on Wednesday.
In Q4FY24, the company reported a net profit of Rs 340 crore, marking a significant 31% quarter-on-quarter (QoQ) rise and a notable 14% year-on-year (YoY) improvement. Additionally, its total revenue from operations experienced robust growth, soaring by 28% QoQ and an impressive 64.28% YoY, reaching Rs 1,357 crore.
Angel One achieved its highest-ever client addition during the quarter, welcoming 2.9 million clients, pushing its client base to 22.2 million as of March 2024. This represents a substantial 14.3% increase QoQ and a remarkable 61.5% growth YoY.
Transaction-wise, the company processed 471 million orders in Q4FY24, marking a remarkable 79% YoY increase. Its average daily turnover (ADTO) surged to ₹44.4 trillion in Q4FY24, showing a 23.3% QoQ increase and an impressive 139% surge YoY.
Angel One also strengthened its position in the retail turnover market share, securing 18% in Q4FY24, with an 83-basis point improvement QoQ, as detailed in the company’s exchange filing.