Angel One, a listed retail stock broking house, has reported a 14 per cent increase in consolidated net profit for the third quarter ended December 31, 2023, at ₹260 crore (₹228 crore).
However, the latest bottomline was 14.5 per cent lower than the net profit of ₹304 crore recorded in the September 2023 quarter.
The Angel One board on Monday declared a third interim dividend of ₹12.70 per share.
Its shares tumbled 10.38 per cent to ₹3,472.55 in early trade on Tuesday.
Commenting on the Q3 performance, Dinesh Thakkar, Chairman & Managing Director said, ”I am delighted with our historic performance in Q3 ‘24, as we acquired more than a million clients in a month and 2.5 million clients in a quarter for the first time, accounting for nearly a quarter of the industry’s net client addition.
The board has approved the distribution of 41 per cent of the quarter’s profit as a third interim dividend, reaffirming our commitment to delivering value to our shareholders.”
Thakkar said the company’s digital assets are evolving, enriched with innovative features to ensure an unparalleled investing experience.
“We undertook process improvements to ease the on-boarding experience and incorporated some unique features, for both new and experienced clients, thus simplifying their investment journey on the app. These focused efforts yielded sustained improvement in our NPS and Playstore and Appstore rankings,” he said.