Angel One shares slump 12.5% to hit a 2-week low after Q3FY24 earnings

livemint.com:

Angel One witnessed a significant decline in its stock value early on Tuesday following the company's release of Q3 FY24 numbers on Monday post-market hours. The company reported a net profit of ₹260 crore in Q3FY24, reflecting a 14.50% quarter-on-quarter (QoQ) decrease but showing a positive 14% year-on-year (YoY) improvement. Its total revenue from operations for Q3FY24 increased by 1% QoQ and 41% YoY, reaching ₹1,059 crore.

During the quarter, Angel One achieved the highest-ever client addition, welcoming 2.5 million clients. As of the end of December 2023, the company's client base had expanded to 19.5 million, marking a 14% increase on a QoQ basis and a healthy 55% growth YoY. Also Read: Medi Assist IPO: Here are key risks to know before subscribing to issue In terms of transactions, the number of orders stood at 350 million in 3QFY24, up 54% YoY.

Its average daily turnover (ADTO) surged to ₹36 trillion in Q3FY24, representing a 21.4% QoQ jump and a 148.5% surge on a year-on-year basis. The company's retail turnover market share in the overall equity segment stood at 26.8% in Q3FY24, marking a 529 basis point improvement on a YoY basis, as per the company's exchange filing. The company maintained its No.

2 rank in Incremental NSE Active Clients. In the quarter, the company's share in NSE active clients increased to 14.8%, marking a growth of 273 basis points. Also Read: HDFC Bank Q3 results today: Expect double-digit growth in net profit Commenting on Angel One’s performance, Mr.