5Paisa Capital hits 52-wk high after posting first-ever quarterly profit

The management said the company saw highest quarterly acquisition of over 1.6 lakh customers
Shares of 5Paisa Capital were locked in 5 per cent upper circuit at Rs 324.60 on the BSE on Tuesday after the company posted net profit of Rs 3.74 crore in June quarter (Q1FY20), against net loss of Rs 55 lakh in the year-ago quarter.

The company has reported quarterly profits for the first time since the launch of 5Paisa in March 2016.  The stock was trading at its 52-week high level. It has rallied 99 per cent in the past month, as compared to 8 per cent rise in the S&P BSE Sensex in the same period.

The company’s total consolidated income rose 85 per cent to Rs 42.44 crore during the reported quarter, against Rs 22.92 crore in the corresponding quarter of previous fiscal. The strong revenue growth, backed by improved trading activity and successfully curtailed expense growth.

The management said the company saw highest quarterly acquisition of over 1.6 lakh customers. With the pandemic accelerating digital growth, millennials thronging to capital markets, and a buoyant stock market,  the management optimistic that the company is entering a new era of investing and incredible growth in coming quarters.

5paisa Capital is engaged in providing financial products through its online technology platform and mobile applications. It is registered with the Securities and Exchange Board of India (Sebi) as a stock broker, depository participant and research analyst, and with the Association of Mutual Funds in India (Amfi) as a mutual fund distributor. Its services are targeted at retail investors and high volume traders who actively invest and trade in securities markets and seek DIY (Do-it-Yourself) services at a low cost.

Till 09:28 am, a combined around 11,270 equity shares had changed hands and there were pending buy orders for 170,000 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.82 per cent at 36,391 points.

 


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