Angel One share price surges over 8.5% on stellar performance in Q4

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Angel One, a prominent retail full-service broking firm in India, experienced an impressive surge of 8.70% in its share price in today's early morning trade, reaching ₹3,100 apiece, following the release of its Q4FY24 performance report on Wednesday. The company reported a net profit of ₹340 crore in Q4FY24, reflecting a notable 31% quarter-on-quarter (QoQ) increase and a substantial 14% year-on-year (YoY) improvement. Furthermore, its total revenue from operations for Q4FY24 witnessed a robust growth of 28% QoQ and a 64.28% YoY surge, reaching ₹1,357 crore.

Also Read: Infosys Q4 results preview: Here is what market expects from Indian IT major During the quarter, Angel One achieved its highest-ever client addition, welcoming 2.9 million clients. As of March 2024, the company's client base had expanded to 22.2 million, marking a significant 14.3% increase in QoQ and 61.5% growth YoY. In terms of transactions, the company processed 471 million orders in 4QFY24, representing a 79% YoY increase.

Its average daily turnover (ADTO) surged to ₹44.4 trillion in Q4 FY24, showcasing a 23.3% QoQ jump and a 139% surge YoY. Angel One also demonstrated its strength in the retail turnover market share, securing 18% in Q4FY24, marking an 83-basis point improvement in QoQ, as indicated in the company's exchange filing. Also Read: Multibagger Stock: KPI Green Energy zoomed over 200% in less than six months Maintaining its position as No.