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5Paisa Capital shares zoom 12% post multifold jump in Q3 profit

5Paisa Capital shares zoom 12% post multifold jump in Q3 profit

The company posted a 1,389 per cent jump in profit for the quarter ended December 2022 at Rs 11 crore

5Paisa Capital shares zoom 12% post multifold jump in Q3 profit 5Paisa Capital shares zoom 12% post multifold jump in Q3 profit

Shares of 5Paisa Capital zoomed over 12 per cent after the company posted a 1,389 per cent jump in profit for the quarter ended December 2022 at Rs 11 crore. 

Profit in the year-ago period stood at Rs 0.74 crore.

Net sales were up 4.6 per cent to Rs 84 crore from Rs 80 crore during the same quarter of the previous year.

“We end the nine-month period of FY23 on a strong note with revenue growth of 18% and PAT growth of 213%. Our growth in profit is on the back of improvement in quality of acquisition, reduction in CAC, focus on technology and providing superior trading platforms to our customers," said Prakarsh Gagdani, Whole-Time Director and CEO, 5paisa Capital Ltd.

"We are also excited about our acquisition of the “Online retail trading business” of IIFL securities. The increased customer base of more than 1.5Mn customers will boost our revenues and profitability significantly in FY24," he added.

"We onboarded more than 1,62,400 new clients during the quarter, taking the total number of registered customers to 33,53,400. The 5paisa Mobile App had more than 14.55 Mn downloads at the end of the quarter with a 4.3 Star rating on Playstore," the company said.

5paisa Capital Limited is engaged in providing financial products through its online technology platform and mobile applications. 

It is registered with SEBI as a stock broker, depository participant and research analyst, and with AMFI as a mutual fund distributor. 

Published on: Jan 12, 2023, 12:02 PM IST
Posted by: Tanya Aneja, Jan 12, 2023, 11:59 AM IST