Incomes of listed brokerages soar in Q3 amid robust client additions

Last year saw rise of 'Robinhood' phenomenon, or direct stock purchases during sharp correction; aggregate brokerage industry income up 8 per cent at Rs 21,000 cr in FY20

Listed brokerages saw a steep rise in revenues and net profit in the third quarter of financial year 2021 as new customer acquisitions and surge in broking fees and commission boosted income. 

ICICI Securities saw its brokerage income jump 61 per cent, while Motilal Oswal saw strong traction in cash market share and highest ever quarterly clients addition. Broking and distribution business profit grew by 59 per cent YoY at Rs 77 crore in Q3FY21 led by healthy volume growth of 98 per cent YoY and gain in market share.

For IIFL Securities, retail broking revenues stood at Rs 73 crore, up