ICICI Securities Q3 PAT up 42% to Rs 380 crore

NEW DELHI:

ICICI Securities

on Tuesday reported a 42 per cent growth in profit after tax at Rs 380 crore for the December 2021 quarter.

The company had posted a PAT of Rs 267 crore in the corresponding quarter of the preceding fiscal, ICICI Securities said in a statement.

The company posted a 52 per cent jump in revenue at Rs 942 crore in the quarter under review from Rs 620 crore for the three months ended December 2020, aided by strong all round performance across business segments.

ICICI Securities has a client base of 70 lakh, of which over 6.8 lakh were added during the quarter.

"Our broad-based and digital-led customer acquisition engine continues to break previous quarterly records. During the quarter, 68 per cent of customers acquired are under 30 years of age (vs 44 per cent YoY) and 87 per cent are from tier II and below towns (vs 69 per cent YoY)," the company's managing director and chief executive officer

Vijay Chandok

said.

"We have identified several underserved pockets where we see a lot of potential. These include young professionals and new entrants to the job market, retirees, NRIs etc and each's investment objectives is very different from the other. To win them over, we are sharpening our delivery and overall value proposition," he added.

ICICI Securities, a subsidiary of ICICI Bank, has four lines of businesses -- broking, distribution of financial products, wealth management and investment banking.