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