SMC Global Securities jumped 12.30% to Rs 121.90 after the company reported 63% rise in consolidated net profit to Rs 52.02 crore on a 35% increase in total revenue from operations to Rs 427.86 crore in Q3 FY24 over Q3 FY23.
On the segmental front, Fee and interest income was Rs 279.95 crore (up 39% YoY), interest income was Rs 94.17 crore (up 43% YoY), net gains on proprietory trading was Rs 40.79 crore (up 43% YoY) and net gain on fair value changes was Rs 12.64 crore (up 6% YoY) during the period under review.
Total expense rose by 31% to Rs 363.39 crore in Q3 FY24 as compared with the same period last year, due to higher fees and commission expense (up 39% YoY), higher employee expenses (up 11% YoY) and higher finance costs (up 58% YoY).
Profit before tax in Q3 FY24 stood at Rs 67.21 crore, up by 63% from Rs 41.31 crore in Q3 FY23.
SMC Global Securities is a Delhi based stock broking company and is the flagship company of the SMC group. The group is one of the old integrated capital market intermediaries in the financial sector engaged in the business of broking, arbitrage trading, financial product distribution (mutual funds, debt products and insurance), depository services, portfolio management services (PMS) and lending operations.
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