5Paisa Capital posts Q1 profit at Rs 2.8 cr

5Paisa Capital on Tuesday reported a profit after tax (PAT) of Rs 2.8 crore for the June quarter on the back of improved trading activity and surge in client acquisitions. This is the company's first-ever quarterly profit since its launch in March 2016, 5paisa Capital said in a statement. The company had posted a net loss of Rs 52 lakh in the year-ago quarter.

5Paisa Capital on Tuesday reported a profit after tax (PAT) of Rs 2.8 crore for the June quarter on the back of improved trading activity and surge in client acquisitions. This is the company's first-ever quarterly profit since its launch in March 2016, 5paisa Capital said in a statement.

The company had posted a net loss of Rs 52 lakh in the year-ago quarter. Total income rose by 85 per cent to Rs 42.44 crore during the quarter under review as against Rs 22.92 crore in the corresponding quarter of previous fiscal.

“We recorded strong revenue growth backed by improved trading activity and successfully curtailed expense growth. We also saw our highest quarterly acquisition of 1.6 lakh customers," 5paisa Capital CEO Prakarsh Gagdani said. "With the pandemic accelerating digital growth, millennials thronging to capital markets, and a buoyant stock market, I am optimistic that we are entering a new era of investing and incredible growth in coming quarters," he added.

5paisa Capital is engaged in providing financial products through its online technology platform and mobile applications..