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.
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.
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.