Earnings | Angel One Ltd. (NSE:ANGELONE): Q3FY23 Results Out; Total Income rise 25% YoY

Angel One Ltd. (NSE:ANGELONE) is an Indian financial services company that offers a range of services including online trading and investment, portfolio management, and wealth management. The company is headquartered in Mumbai and has a presence in over 1800 cities across India.

In Q3FY23, Angel One added around 1.0 million clients, taking the total client base to over 12.5 million during the quarter. The consolidated total income for Q3FY23 was Rs. 7,597 million, a 1.9% growth on a QoQ basis. The consolidated EBDAT for Q3FY23 was Rs. 3,099 million, a growth of 5.9% on a QoQ basis. The EBDAT margin (as % of net income) stood at 53.9% in Q3FY23. The company’s consolidated profit after tax from continuing operations for Q3FY23 was Rs. 2,280 million, a growth of 6.8% on a QoQ basis. The board of directors recommended a dividend of Rs. 9.60 per equity share of Rs. 10 each, equivalent to 35% of consolidated profit after tax, for the quarter.

For the 9-month period ended December 31, 2022, Angel One reported a total income of Rs. 2,190 crores, a significant increase from Rs. 1,613.6 crores during the same period in the previous year. The company posted a net profit of Rs. 623 crore for the 9-month period ended December 31, 2022, a significant increase from Rs. 420.1 crore during the same period in the previous year. The EPS for the 9-month period ended December 31, 2022, was Rs. 73.17, compared to Rs. 50.06 during the same period in the previous year.

In Q3FY23, Angel One continued to show steady growth in its client base and financial performance, with increases in both total income and profit after tax from continuing operations. The company’s strong financials for the 9-month period ended December 31, 2022, indicate sustained growth and profitability.

Commenting on the performance, Mr. Narayan Gangadhar, Chief Executive Officer said, “Angel is amongst the few players to witness consistent growth, both operationally and financially. We continue to gain market share in total demat accounts, to 11.6%; achieved a 12.0% share in NSE active clients and are firmly amongst the top 3 largest new-age digital brokers in India; reported our highest quarterly ADTO with steady orders and turnover market share. Angel is the largest publicly traded, fully digital stockbroker in the country During the quarter, we initiated the rollout of the Android version of our Super App, to the first batch of our clients. The App recorded 100% uptime, which not only added to the overall experience but also led to better Playstore rating and higher NPS. We instituted Mutual Fund services, on iOS, Android and Web platforms. This marks the commencement of the App transitioning to a “True Super App”. Our superior product offering and best-in-class client experience makes Angel a trusted partner for our clients. I believe our App will be the epitome of superlative client experience and will provide them with the most appropriate launchpad to invest in a variety of financial assets.”