ICICI Securities fourth quarter after-tax profit up two-fold at Rs 329 cr

Photo: Kamlesh Pednekar

ICICI Securities on Wednesday reported an over two-fold increase in profit after tax (PAT) to Rs 329 crore for the three months ended March 2021 on account of growth in revenue and improvement in margins.

In comparison, the company had posted a PAT of Rs 156 crore in the same quarter of the preceding fiscal, ICICI Securities said in a statement.

The company attributed the surge in quarterly profit to growth in revenue and improvement in margins.

Its revenue climbed 53 per cent to Rs 739 crore in the quarter under review from Rs 482 crore in the three months ended March 31, 2020.

The growth in revenue was aided by strong performance of equities and allied operations, along with distribution, private wealth management and investment banking businesses, it added.

ICICI Securities, a subsidiary of ICICI Bank, is a leading retail-led equity franchise, distributor of financial products, and investment bank.

The company has declared a final dividend of Rs 13.5 per share, taking the dividend to Rs 21.5 a share for 2020-21.

"We are happy to report strong all around financial and operational performance during the quarter, which is a testimony of successful implementation of the strategic vision we had articulated earlier and favorable market conditions," said Vijay Chandok, managing director and chief executive officer of the company.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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