 "ICICI Securities")
ICICI Securities on Thursday reported a 14 per cent decline in profit after tax to Rs 300 crore in the three months ended September 2022
In comparison, the company had posted a Profit After Tax (PAT) of Rs 351.2 crore in the same quarter preceding fiscal, ICICI Securities, a subsidiary of ICICI Bank, said in a statement.
The company's total income rose to Rs 865.63 crore in the second quarter ended on September 30, 2022 from Rs 856.56 crore in the year-ago period.
"We had a satisfactory quarter and are progressing well on our articulated strategy of pursuing long-term sustainable growth by continuing to diversify in favour of non-broking business. For this, we are investing in right kind of products, services, partnerships. Today, broking revenue is about a third of our overall revenue, against two thirds a couple of years back," Vijay Chandok, Managing Director and CEO of ICICI Securities, said.
The board has declared an interim dividend of Rs 9.75 per share in first half of FY23 as compared to Rs 11.25 in the same period preceding fiscal.
ICICI Securities is the country's leading retail-led equity franchise, distributor of financial products, and investment bank.
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