ICICI Securities Q3 PAT up 42 per cent

Mumbai, Jan 18 (UNI) ICICI Securities, a part of the ICICI Group, on Tuesday reported a 42 per cent increase in consolidated net profit for the quarter ended December 31, 2021 at Rs 380 crore on the back of strong all round performance across business segments.
The company had reported a PAT of Rs 267 crore in Q3FY21, it said in a regulatory filing.
Its consolidated revenues for the October-December quarter stood at Rs 942 crore as against Rs 620 crore in the corresponding period last fiscal, registering a 52 per cent growth.
“Our broad-based and digital-led customer acquisition engine continues to break previous quarterly records. During the quarter, 68 per cent of customers acquired are under 30 years of age and 87 per cent are from tier II and below towns. We have identified several underserved pockets where we see a lot of potential. These include young professionals and new entrants to the job market, retirees, NRIs etc.,” company’s Managing Director and Chief Executive Officer Vijay Chandok said.
He said the company will continue transitioning to a digitally integrated financial marketplace, and is adopting a ‘mass personalisation’ approach.
“Towards this we are investing in next gen skill sets, tools, platforms and capabilities, through which we are able to offer highly customized solutions matching an investor’s risk appetite and goals,” Chandok added.
During the quarter, the company added 6.8 lakh clients to its base taking up the tally to over 70 lakh. “Digital sourcing and open architecture approach continue to demonstrate strength with 81 per cent of new customers coming from non-ICICI Bank channels,” it said.
Its total client assets stood at Rs 5.6 lakh crore as on December 31, 2021, as against Rs 3.4 lakh crore a year ago, up 64 per cent.
In Q3 FY2022, the cost to income ratio stood at 46 per cent, while Return on Equity (annualized) was at robust 73 per cent.
During the quarter, equities and allied business, which comprises retail equity, institutional equity, lending towards ESOP and margin trade funding, Prime and NEO subscription fees and other charges, rose 36 per cent year-on-year to Rs 596 crore.
Its distribution revenue stood at Rs 164 crore in October-December quarter, up 55 per cent against Q3 FY2021.
The company’s private wealth management (PWM) business reported Rs 259 crore of revenue in Q3FY22 up 128 per cent on-year. The PWM asset base was at Rs 2.83 lakh crore, up 92 per cent year-on-year.
Its issuer services and advisory business revenue stood at Rs 111 crore in Q3FY22, up 372 per cent on-year. “The company has a strong IPO pipeline of 63 deals amounting to over Rs 85000 crore,” it said.
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