ICICI Securities Ltd Share Price – NSE  /  BSE

Stock/ Commodity Brokers, Small Cap

Total income was at Rs 1,544.44 crore in the quarter ended 31 March 2024, registering a growth of 74.5% year on year (YoY).

On quarter on quarter basis, the company’s net profit rose 15.21% and total income grew 16.71% in Q4 FY24.

Profit before tax stood at Rs 719.9 crore during the quarter, registering a growth of 103.82% YoY and 15.38% QoQ.

Interest income was at Rs 522.94 crore in Q4 FY24, up 82.1% YoY, due to increase in average MTF funding book and MTF & fixed deposits yields.

Brokerage income soared 88.7% YoY to Rs 585.42 crore in the March quarter, primarily due to increase in equity & derivative volumes.

During the quarter, retail equities & allied revenue grew 84% YoY and 20% QoQ due to increase in cash volumes and growth in equity allied business.

The distribution business reported revenues of Rs 189.7 crore for the quarter, down 1.65% YoY and up 9% QoQ. Sequentially, the growth was led by increasing mutual fund distribution business.

Institutional equities & allied revenue business during the quarter was Rs 107.5 crore, up 118% YoY and up 19% QoQ in Q4 FY24.

The company’s Issuer Services & Advisory revenue stood at Rs 104.5 crore in Q4 FY24 which is steeply higher than Rs 12.7 crore recorded in Q4 FY23.

ICICI Private Wealth Management (PWM) business reported Rs 490 crore of revenue in Q4 FY24, recording a growth of 92% YoY and 21 QoQ.

On full year basis, the company’s net profit climbed 51.81% to Rs 1,696.69 crore on 47.45% jump in total income to Rs 5,051.10 crore in FY24 over FY23.

Meanwhile, the firm’s board has approved the payment of second interim dividend of Rs 17 per share for FY24. The record date for the said dividend is Friday, 26 April 2024 and it will be paid to the shareholders on or before 18 May 2024.

ICICI Securities (I-Sec) is a subsidiary of ICICI Bank. Through its four lines of businesses -- broking, distribution of financial products, wealth management and investment banking-- I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.

Shares of ICICI Securities rose 0.56% to Rs 707.20 on the BSE.

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Net profit of ICICI Securities rose 104.25% to Rs 536.53 crore in the quarter ended March 2024 as against Rs 262.68 crore during the previous quarter ended March 2023. Sales rose 74.41% to Rs 1543.17 crore in the quarter ended March 2024 as against Rs 884.78 crore during the previous quarter ended March 2023.

For the full year,net profit rose 51.81% to Rs 1696.69 crore in the year ended March 2024 as against Rs 1117.63 crore during the previous year ended March 2023. Sales rose 47.82% to Rs 5049.21 crore in the year ended March 2024 as against Rs 3415.75 crore during the previous year ended March 2023.

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ICICI Securities announced that the Board of Directors of the Company at its meeting held on 18 April 2024, inter alia, have recommended the interim dividend of Rs 17 per equity Share (i.e. 340%) , subject to the approval of the shareholders.

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ICICI Securities has fixed 26 April 2024 as record date for interim dividend of Rs 17 per share. The dividend will be paid on or before 18 May 2024.

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