ICICI Securities has announced its financial results for the quarter ended June 30, 2019 (Q1 FY20), reporting consolidated revenue of ₹402 crore and profit after tax (PAT) of ₹114 crore.
The company’s consolidated revenue declined 8% from ₹436 crore in Q1 FY19, while PAT fell 15% from ₹134 crore during the corresponding period last year.
In its broking business, ICICI Securities crossed 4.5 million operational accounts, adding nearly one lakh accounts during the quarter. The company’s NSE active client base stood at 0.88 million, giving it a market share of 9.8%, the highest in the last 18 months.
The company’s equity market share increased by 70 basis points year-on-year to 8.1% in Q1 FY20. Total brokerage revenue, excluding interest income, stood at ₹220 crore, down 4% year-on-year. However, after adjusting for fewer trading days during the quarter, broking revenue remained largely flat.
Retail brokerage revenue declined 6% year-on-year, while institutional brokerage revenue grew 12%. The broking business contributed 55% to the company’s total revenue during the quarter.
ICICI Securities said it received a strong response for its subscription-based offering, ICICI direct Prime, which provides competitive pricing, research support and enhanced eATM limits. Around one lakh customers subscribed to the platform during the period.
