ICICI Securities shares up 7%
Shares of ICICI Securities closed with a gain of nearly 7 per cent on Thursday after the company reported an over two-fold increase in profit after tax (PAT) for the three months ended March 2021.
ICICI Bank posts 23.5% rise in Q3 net profit
New Delhi: Shares of ICICI Securities closed with a gain of nearly 7 per cent on Thursday after the company reported an over two-fold increase in profit after tax (PAT) for the three months ended March 2021.
The stock gained 6.87 per cent to close at Rs 453.30 on the BSE. During the day, it rallied 8.45 per cent to Rs 460. On the NSE, it jumped 6.46 per cent to close at Rs 452.05. In traded volume terms, 2.93 lakh shares were traded on the BSE and 62 over lakh shares on the NSE during the day. ICICI Securities on Wednesday reported an over two-fold increase in profit after tax (PAT) to Rs 329 crore for the three months ended March 2021, on account of growth in revenue and improvement in margins.
In comparison, the company had posted a PAT of Rs 156 crore in the same quarter of the previous financial year, ICICI Securities said in a statement. The company attributed the surge in quarterly profit to growth in revenue and improvement in margins. Its revenue climbed 53 per cent to Rs 739 crore in the quarter under review, from Rs 482 crore in the three months ended March 31, 2020.
The growth in revenue was aided by strong performance of equities and allied operations, along with distribution, private wealth management and investment banking businesses, it added. ICICI Securities, a subsidiary of ICICI Bank, is a leading retail-led equity franchise, distributor of financial products, and investment bank.
