Choice International Q2 profit surges to Rs 30 crore

Choice International said 60 per cent of its revenues came from the stock broking business, 30 per cent from the advisory segment, and the remaining 10 per cent from its non-banking financial company segment

Brokerage house Choice International on October 16 reported an over three-fold growth in profit after tax at Rs 30 crore for three months ended September 2023.

In comparison, the firm had posted a Profit After Tax (PAT) of Rs 8.2 crore in the year-ago period, Choice International said in a statement.

Total revenues surged Rs 194 crore in the quarter under review from Rs 78.5 crore in the second quarter ended September 30, 2022.

Choice International said 60 per cent of its revenues came from the stock broking business, 30 per cent from the advisory segment, and the remaining 10 per cent from its non-banking financial company segment.

The company added 47,000 demat accounts in the September quarter, taking the total number to 7.68 lakh.

In the first half of current financial year, Choice posted a PAT of Rs 51.2 crore and a total revenue of Rs 333.2 crore.

Shares of Choice International were trading 1.42 per cent higher at Rs 428.85 apiece on the BSE. PTI SP SHW