Angel One Ltd FY23 Q3 Results
Mumbai, January 23, 2023: Angel One Limited (BSE: 543235) (NSE: ANGELONE), announced its unaudited consolidated financial results for the quarter and nine months ended 31st December 2022.
Commenting on Angel One’s performance, Mr. Dinesh Thakkar, Chairman MD said, “India’s robust economic policies make it one of the best investment destinations globally. This coupled with the continuously evolving regulatory environment, have been the driving force for higher retail participation in the country. India’s Capital Market created a milestone as the total demat base grew to over 108 million as of December ‘22.
India’s young demography strongly favours technology assimilation, and Angel’s digital products and engagement tools position us well to cater to them. Through our Super App, we strive to be long-term collaborators in their wealth creation journey, and service alltheir financial needs through an expanded product bouquet.
I am happy to see positive results of our digital strategy, and strongly believe we are well positioned to garner a larger market share of this expanding market.
In line with our dividend policy, the Board of Directors have declared a distribution of 35% of the quarters profit, as a third interim dividend to the shareholders.”
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 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 a 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.”
Angel One continued to witness strong gross addition of ~1.0 mn clients in Q3 ’23, crossing 12.5 mn mark in total client base during the quarter
Consolidated Total Income
₹ 7,597 mn in Q3 ‘23 vs ₹ 7,459 mn in Q2 ‘23 , a 1.9% growth on QoQ basis
₹ 3,099 mn in Q3 ‘23 vs ₹ 2,926 mn in Q2 ‘23, a growth of 5.9% on QoQ basis
EBDAT Margin (as % of Net Income) stood at 53.9% in Q3 ‘23
Consolidated Profit After Tax From Continuing Operations
₹ 2,280 mn in Q3 ’23 vs ₹ 2,136 mn in Q2 ’23, a growth of 6.8% on QoQ basis
The Board of Directors have recommended dividend of Rs. 9.60/- per equity share of Rs. 10/- each, as a third interim dividend, equivalent to 35% of consolidated profit after tax, for the