5Paisa Capital posts fourth quarter net profit at Rs 6.21 crore

Representational image

5Paisa Capital on Wednesday reported a net profit of Rs 6.21 crore for the fourth quarter ended March 2021.

The company had posted a net loss of Rs 1.76 crore in the year-ago period, 5paisa Capital said in a statement.

The total income rose by 41 per cent to Rs 49.9 crore for the quarter under review from Rs 35.41 crore a year ago.

5Paisa Capital has onboarded more than 2 lakh new clients during the quarter, taking the total number of registered customers to 13.5 lakh.

For the full fiscal ended March 31, 2021, the company posted a net profit of Rs 14.66 crore as compared to a net loss of Rs 8.05 crore in the preceding financial year.

Total revenue from operations increased by 80 per cent to Rs 194.58 crore in 2020-21compared to Rs 108.28 crore in the previous fiscal.

"Our sustained efforts on focusing on growth backed by revenues and cost efficiency has helped us to report full-year profits in our 5th year of operations.

"... excited for the new phase of growth 5paisa will embark on with the proposed capital infusion of Rs 250 crore. 5Paisa as a part of our reorientation strategy will transform from being a mere discount broker to a digital financial platform in coming quarters," 5paisa Capital Whole-Time Director and CEO Prakarsh Gagdani said.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel