5paisa Capital Q3 Results 2024: Shares dip despite 37% YoY rise in net profit
5paisa Capital Q3 Results 2024: The third quarter of the fiscal year 2024 (Q3FY24)Stock broking company 5paisa Capital on January 11 announced that its profit after tax (PAT) increased by 37 per cent year-on-year to ₹15.1 crore for the quarter that ended in December 2023. In the same period last year, the amount was ₹11 crore. The stocks of 5Paisa Capital were trading in red, down 7.15 per cent, at ₹642.70 on BSE at 10:33 am on January 12, 2023.
With the Nifty soaring to an unprecedented all-time high, the sector witnessed an impressive surge, marked by the addition of over 96 lakh demat accounts, the company announced in an official release. The company’s consolidated income jumped 20 per cent year-on-year during the reporting quarter to ₹100 crore from ₹83.8 crore last year. In the fourth quarter of the year, profit before tax amounted to ₹20.2 crore, an increase of 37 per cent.
“We have also scaled our client acquisition to 2.32 lakh customers, up 71 per cent q-o-q, reaching a total customer base of 39.6 lakhs and a market share of 2.4 per cent of incremental client acquisitions, which is up 63 per cent q-o-q. Further, our total average daily turnover has gone up to Rs.3.70 trillion, up 80 per cent y-o-y. We are confident of accelerating the momentum of our customer acquisitions and revenue in the coming quarters," said Narayan Gangadhar, CEO of 5paisa Capital Ltd.
For nine months of FY24, revenue increased by 14 per cent year-on-year (YoY) to ₹282 crore, while profit was up 67 per cent year-on-year to ₹48.7 crore. The company has scaled its client acquisition to 2.32 lakh customers in the third quarter, up 71 per cent on a sequential basis, reaching a total customer base of 39.6 lakh. The company’s average daily
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