Angel’s Stock Spiked Up to 6.5%

On Thursday, shares of ‘Angel One Ltd’, a broking firm spiked up to 6.5% on the National Stock Exchange in opening deals, responding to the firm’s stellar March quarter (Q4) earnings.

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The increasing retail footprint, particularly in smaller cities and towns, has administered the growth of the profit in the fiscal fourth quarter (Q4FY22). A packed profit after tax grew 24% sequentially to ₹205 crores in Q4, and FY22 net profit of ₹625 crores more than doubled from FY21.

As per the company’s management, this was the highest ever client addition in this quarter. Among these, 94% of client additions were from tier-2/3 cities, note analysts. The number of orders rose 17% consecutively and 83% year-on-year and which is a record high in the March quarter.

“Q4FY22 witnessed a few major releases of our Super-App as we put it into a developed beta and validation phase. The first look will be delivered in this quarter,” the firm’s management said in its earnings press release.

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The firm’s management added that it persists in its focus on strengthening its digital platform and strives to have a super app soon. Investors would assess that the contest rollout of the company’s super app will take place in a phased manner over a while. So, against this backdrop, a timely launch will be among the aspects investors would monitor.

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Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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