ICICI Securities spurted 7.96% to Rs 457.90 after the company's consolidated net profit soared 111.4% to Rs 329.47 crore on 53.41% surge in net sales to Rs 739.34 crore in Q4 FY21 over Q4 FY20.
The company's consolidated profit after tax (PAT) for the quarter surged on account of growth in revenue and improvement in margins. Revenue growth was aided by strong all-round performance in equities & allied business, distribution business, distribution business, private wealth management business, as well as investment banking business.ICICI Securities has a client base of approximately 5.4 million, of which approximately 3.5 lakh were added during the quarter, which is highest ever addition in a quarter. Digital sourcing continues to demonstrate strength with approximately 2.2 lakh customers added through this channel during the quarter, vs approximately 38,000 in Q3, 28,000 in Q2 and approximately 20,000 in Q1.
In Q4FY21, ICICI Securities expanded its equity market share(by volume) by 50 bps YoY to 9.6%. Total client assets stood at Rs 3.8 lakh crore on 31 March 2021, compared with 2.1 lakh crore a year ago, up 85%.
In Q4FY21, equities and allied business revenue rose 46% year-on-year to Rs 482 crore. Distribution revenue stood at Rs 141 crore in Q4FY21 up 22% against Q4FY20. I-Sec's private wealth management (PWM) business reported Rs 158 crore of revenue in Q4FY21, up 82% on-year. The company's issuer services and advisory business revenue stood at Rs 53 crore in Q4FY21, up 441% on-year.
Commenting on the Q4 earnings, Vijay Chandok, the managing director (MD) and Chief Executive Officer (CEO) of ICICI Securities, stated: "We are happy to report strong all around financial and operational performance during the quarter. We are focused on executing our strategy to digitally and seamlessly deliver highly personalized and relevant products and solutions for our customers. Towards this, are investing in building capabilities to cater to the rapidly growing segments like the millennials and Gen Z, which the company has started attracting in large proportions."
The board has also recommendation a final dividend of Rs 13.50 per equity share.
ICICI Securities, a subsidiary of ICICI Bank, operates ICICI Direct, India's leading virtual financial supermarket, meeting the three need sets of its clients- investments, protection, and borrowing. Through its four lines of businesses--broking, distribution of financial products, wealth management and investment banking--I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.
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