ICICI Securities Q2 PAT jumps two-fold to Rs 278 cr

Brokerage house ICICI Securities on Wednesday reported a more than two-fold jump in profit after tax to Rs 278 crore for the September quarter, helped by growth in revenue and improvement in margins. This was aided by strong growth in equities and allied business, private wealth management segment, as well as investment banking business, ICICI Securities said.

Brokerage house ICICI Securities on Wednesday reported a more than two-fold jump in profit after tax to Rs 278 crore for the September quarter, helped by growth in revenue and improvement in margins. It had posted a profit after tax (PAT) of Rs 135 crore in the same quarter of the preceding fiscal, ICICI Securities, part of ICICI Group, said in a statement. The company reported a 63 per cent surge in revenue to Rs 680 crore in the second quarter of 2020-21, from Rs 418 crore in the year-ago period. This was aided by strong growth in equities and allied business, private wealth management segment, as well as investment banking business, ICICI Securities said. Besides, the company announced an interim dividend of Rs 8 per equity share. "We are happy to report strong financial and operational performance during the quarter. Most of our businesses have performed well, with the equity and allied business leading the way," ICICI Securities Managing Director and Chief Executive Officer Vijay Chandok said. "We also witnessed recovery in other segments as business sentiment is improving with economic activities picking up," he added.