Choice International Records 50% PAT Growth in Q1FY25

Choice International reported a 50% growth in profit after tax to Rs 32 crore for the first quarter of FY25, up from Rs 21.3 crore in the same period last year. The company's total revenue rose 48% to Rs 205.9 crore, driven by a robust stock market rally.

Choice International, a financial services firm, announced on Friday a notable milestone: achieving a 50% growth in profit after tax (PAT) to Rs 32 crore for the quarter ending June 2024.

This marks a rise from Rs 21.3 crore in the same period last year, with the company's total revenue appreciating 48% year-on-year to Rs 205.9 crore, up from Rs 139.3 crore in the year-ago period. The firm's managing director, Kamal Poddar, attributed the gains to a strong stock market rally amid a focus on elections, with indices like Nifty and Sensex hitting record highs and providing excellent returns.

The company's quarterly revenue of Rs 206 crore underscores its success, with EBITDA and PAT standing at Rs 58 crore and Rs 32 crore, respectively. Notably, Choice International's broking and distribution business accounted for 67% of total revenues, followed by its advisory business at 21% and NBFC operations at 12%.