Angel One shares gain nearly 5% on strong Q3 update

Angel One shares gain nearly 5% on strong Q3 update

Angel One share price gained nearly 5 percent in January 6 trade after healthy third quarter business updates for the month of December 2024.

The company's client base grew 51.7 percent Year-on-year (YoY) to 29.52 million as of December 31, 2024, up from 19.45 million in December 2023.

The broking app showcased robust year-on-year (YoY) growth for Q3 FY25 in its client base and mutual fund SIP registrations.

Angel One stock touched an intraday high of Rs 2,990 per share on the NSE in early trade, rising 4.68 percent from its previous close. At around 9:50, the stock was still up to quote at Rs 2,924.25 apiece, jumping 2.38 percent.

The company reported a quarter-on-quarter (QoQ) decline of 11.8 percent in its overall Average Daily Turnover (ADTO) based on notional turnover, which stood at Rs 40,052 billion. However, on a year-on-year (YoY) basis, the ADTO registered an 11.3 percent increase.

The company reported revenue from operations at Rs 1514.7 crore during the September quarter, higher by 44 percent compared to a year ago, and net profit coming at Rs 423 crore, higher by 39 percent on year.

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