ICICI Securities advances 8% on healthy March quarter results

The robust profit was on account of growth in revenue and improvement in margins.

Shares of ICICI Securities advanced 8 per cent to Rs 460 on the BSE in the intra-day trade on Thursday after the brokerage reported a strong set of numbers for the quarter ended March 2021 (Q4FY21). The company’s consolidated profit after tax more-than-doubled on year-on-year (YoY) basis to Rs 329 crore on the back of a 54 per cent YoY growth in revenue at Rs 739 crore, coupled with significantly lower cost to income or C/I ratio.

The company said healthy revenue growth was aided by strong all round performance in equities & allied business, distribution business, private wealth