Stock broking company Steel City Securities Limited posted a 50 per cent growth in trading turnover during the first quarter of the current financial year at Rs 14,132 crore as against Rs 9,376 crore in corresponding period last year.
The market is expecting a growth of 15 to 20 per cent year-on-year over the next 3-4 years owing to a stable government at the Centre, said Satish Kumar Arya, director (operations). During 2013-14, the company earned a net profit of Rs 5.25 crore on revenues of Rs 31.35 crore, and this year it expects more than Rs 10 crore in net profit on over Rs 50 crore revenue, he added.
Steel City Securities operates 303 branches across six states, and plans to enter three more states including Delhi, Gujarat and Kerala this year. It would add 50 branches during this fiscal, according to Arya.
SCSL has formed a new company Steel City Financial Group in which it has a 49 per cent stake. "Under the new company we are providing loans to our members against their shares. For this, we have Rs 2.5 crore as paid up capital," he said.
