5paisa Capital surged 4.74% to Rs 381 after the company reported a consolidated net profit of Rs 2.84 crore in Q2 September 2020 as against a net loss of Rs 3.51 crore in Q2 September 2019.
Total income during the quarter surged 126.13% to Rs 52.62 crore in from Rs 23.27 crore reported in the same period last year. Interest income increased by 242.14% to Rs 15.02 crore while the income from fees and commissions jumped 97.87% to Rs 37.32 crore in Q2 FY21 over Q2 FY20.
The company's consolidated income for the quarter has grown by 24% quarter-on-quarter (QoQ) mainly owing to improved trading activity by existing customers, surge in new client acquisitions and higher cross sell of financial products. Whereas the firm's operating expenses for the quarter has grown by 26% QoQ, mainly due to increased cost on account of higher customer acquisition; resulting in total comprehensive income of Rs 2.7 crore for the quarter.
Pre-tax profit in Q2 FY21 was at Rs 3.84 crore as against a pre-tax loss of Rs 3.83 crore in the same period last year.
5paisa Capital recorded the highest ever client acquisition with over 2,45,000 acquisitions in the quarter, crossing 9,50,000 customers in total.
Prakarsh Gagdani, Whole-Time Director and CEO, 5paisa Capital, said: "I am delighted to report strong revenue growth for yet another sequential quarter. Buoyance in capital market activity backed by strong customer acquisition fueled growth. P2P lending, our new line of business also kick started this quarter. Initial response of this business is promising and I am confident that it will scale up significantly in coming quarter."
5paisa Capital is engaged in providing financial products through its online technology platform and mobile applications. It is registered with Sebi as a stock broker, depository participant and research analyst, and with AMFI as a mutual fund distributor.
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