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Business Economy


ICICI Securities reports 26 per cent increase in revenue for Q2 of FY22

Mumbai, Oct 19 (UNI) ICICI Securities on Tuesday reported 26 per cent increase in its consolidated revenue for Q2 of financial year 2021-22 at Rs 857 crore against Rs 680 crore in the corresponding quarter of financial year 2020-21.

The consolidated Profit After Tax (PAT) for Q2FY22 stood at Rs 351 crore as against Rs 278 crore in Q2FY 21, up 26 per cent, on account of growth in revenue and improvement in margins.

Equity and allied revenue was at Rs 541 crore, up 19 per cent year-on-year while distribution income was at Rs 151 crore, up 53 per cent year-on-year.

Private Wealth Management Revenue was at Rs 232 crore, up 129 per cent year-on-year and issuer services and advisory revenue was at Rs 73 crore, up 17 per cent year-on-year basis.

Commenting on the results, Vijay Chandok, Managing Director and Chief Executive Officer, said, ''Our strategy of broad basing our customer acquisition engine is paying off and I am happy to report the highest ever quarterly customer addition yet again this quarter. During the quarter, young millennials and Gen Z account for 65 percent of new customers and those from tier II and below cities are now 84 per cent of new customer.''
''We see a long growth runway, given our country's current position in the financialisation journey, expected secular long term GDP growth, large number of youth entering the job market annually and equally large number of retirees with both sets of differential needs,'' he said.
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