CNBC-TV18
Despite lower trading activity in the market, ICICI Securities has managed to keep their top line intact. However, the growth in coming quarters could be impacted by the cautious market mood as much of its business is dependent on what the market move is.
Elaborating on the outlook for the market and revenues, Shilpa Kumar, managing director and CEO of the company, said there is diversity of revenue streams for them.
The 4 percent revenue growth delivered is a heterogeneous growth across different segments, she said, adding that for the broking segment, growth has been flat compared to last year because it is dependent on the market.
“It is true that market does determine our broking and equity capital market (ECM) revenues but to the extent, we have significant distribution revenues which have grown very well and on distribution side advisory business has grown well,” she said.
Going forward, the company is focused on getting new clients on board. "Getting client engagement up and have added 2.2 lakh customers in H1 and seen 22 percent growth in active customers on NSE. The company has seen 30 percent plus growth in SIPs," she said.
Shilpa added that the new mutual fund expense norms does put pressure on everybody associated with the industry.
According to her, “Every challenge is an opportunity and the fact that we are a digital platform and can reach out digital to customers through various ways, we will have to focus on that.”
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