Revenues and profit surge for broking houses in September quarter

During the September quarter, the Sensex and the Nifty indices rallied nearly 10 per cent, while the broader markets rallied even more

The uptick in the markets and a healthy addition of new clients have led to a spurt in profits for broking houses. Most players have reported strong growth in both revenues and profits for the quarter ended September 30 over the April-June period, which also was a good quarter.

ICICI Securities, the biggest listed broking outfit, reported a 32 per cent increase quarter-on-quarter (QoQ) in net profit to Rs 324 crore for its broking and distribution business on revenue of Rs 603 crore in the September quarter. Motilal Oswal and Angel Broking reported a 33 per cent and 54 per cent