ICICI Securities reports 90.71% jump in March quarter net at Rs 158.64 cr


MUMBAI: ICICI Securities (I-Sec), the recently listed i-banking and brokerage arm of private sector lender ICICI Bank, today reported a 90.71 per cent jump in the March quarter net at Rs 158.64 crore.

The company, which had a very tepid listing which came after the parent’s MD and CEO Chanda Kochhar got caught in allegations of a possible conflict of interest, had posted a post tax net of Rs 83.18 crore in the year-ago period.

For the fiscal year 2017-18, its net profit grew 64.72 per cent to Rs 557.3 crore.

Revenues for the reporting quarter grew 34.88 per cent to Rs 514.6 crore, helped by a 31 per cent growth in the broking revenues to Rs 275.4 crore (rpt Rs 275.4 crore).

In a statement, the company said its market share in the competitive broking segment has grown by 1.20 percentage points to 9 per cent during the recently concluded fiscal and added it has 40 lakh active accounts now.

“I-Sec is well positioned to take advantage of the macroeconomic trends of increasing financialisation and equitisation in household savings,” its managing director and chief executive Shilpa Kumar was quoted as saying in the statement.

The I-Sec scrip, which got listed at Rs 520 on April 4, closed 3.43 per cent up at Rs 422.65 a piece on the BSE on Friday.economictimes