Angel One Shares Price:
The board of Angel One has recommended an interim dividend payout of Rs 12.70 a share and has fixed January 23 as the record date to determine the eligible shareholders for the same. This is the third interim dividend payout by the brokerage firm for the current financial year.
Shares of Angel One :
Tanked over 12% to the day’s low of Rs 3,392 on the NSE in Tuesday’s trade notwithstanding a 14% year-on-year (YoY) rise in its December quarter consolidated net profit and Rs 12.7/share interim dividend announced by the company on Monday.
Angel One reported a healthy set of numbers:
For the quarter ended December 2023, with the consolidated net profit rising 14.2% (YoY) to Rs 260 crore. Revenue from operations rose 41.5% YoY to Rs 1,059 crore. Sequentially, however, the bottomline declined14.5%, due to higher growth in cash segment orders and a rise in operating expenses on the back of higher client acquisition.The board has recommended an interim dividend payout of Rs 12.70 a share and has fixed January 23 as the record date to determine the eligible shareholders for the same.
This is the third interim dividend payout by the brokerage firm for the current financial year.The total client base as of December-end stood at 19,5 million, up 55.5% YoY and 14% sequentially. The gross client acquisition during the quarter increased 149% YoY and 16% sequentially.Angel One added 2.5 million clients, the highest ever in the quarter, the company said.“Our sustained growth is a testament to the success of our data-driven strategy, as we reap benefits of a vast pool of data and leverage it to create models using complex algorithms,” said Chairman and MD Dinesh Thakkar.“
Angel One on the January 15 said:
We are in the process of expanding our offerings to partner with our clients at every important phase of their lives, as we extend our touchpoints in distributing credit and fixed income products,” he said.The average daily turnover (ADTO) was Rs 36 trillion, compared to Rs 29.6 trillion a quarter ago.The multibagger stock has delivered over 162% returns in the past one year outperforming Nifty which has returned near 23% returns.Angel One on January 15 said its consolidated net profit for the quarter ended December 2023 rose 14.16 percent year-on-year to Rs 260.3 crore.
Company had reported a net profit of Rs 228 crore:(Angel One)
The company had reported a net profit of Rs 228 crore in the same quarter last year.Its revenue from operations stood at Rs 1,059 crore, registering a growth of 41.86 percent from Rs 7,486 crore in the corresponding quarter last year, according to an exchange filing.The Board of the company declared a third interim dividend for FY24 at the rate of Rs 12.70 per share.
The dividend to be distributed is equivalent to 41 percent of consolidated profit after tax for the quarter. The record date for determining eligibility of shareholders for payment of the dividend shall be Tuesday January 23, 2024. The dividend shall be paid on or before February 14, 2024.The broker’s client base increased 55.5 percent year on year to 1.95 crore. Its share in India’s demat account base improved 241 basis points.
Dinesh Thakkar (CMD of Angel One) said:
“Our digital assets are continuously evolving, enriched with innovative features to ensure an unparalleled investing experience. We undertook process improvements, to ease the onboarding experience and incorporated some unique features, for both new and experienced clients, thus simplifying their investment journey on the app,” said Dinesh Thakkar, Chairman & Managing Director, Angel One.“A testimony to the effectiveness of our Super App strategy, is clearly visible from our accomplishment in distributing Mutual Funds, as we continue to be India’s second largest player for incremental registered SIPs.”
