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Earnings

Complete focus on retail customers driving growth, says ICICI Securities

Updated : October 29, 2020 11:51 AM IST

Brokerage house ICICI Securities on Wednesday reported a more than two-fold jump in profit after tax to Rs 278 crore for the September quarter against Rs 135 crore posted in the same quarter last year. The numbers were driven by growth in revenue and improvement in margins. The revenue jumped 63 percent to Rs 680 crore from Rs 418 crore YoY.

Sharing his views on the numbers, Vijay Chandok, MD & CEO of ICICI Securities, said, “If you look at our numbers and you look at our market share, we have had a gain of about 250 basis points in equities market share during the quarter on YoY basis. When it comes to derivatives, our market share has gone up by about 150 basis points. So, we are indeed making some very positive stride in gaining market share.”

“We are just participating in the larger trend that is there in India, under-penetration is there big time in this sector. We have been focused completely on the retail customer and ensuring that we keep improving services, bring greater products, and keep bringing better pricing plans. That is probably the reason why we have seen growth,” added Vijay.

Speaking about broking business, he said, “Broking revenues have actually doubled during this period on a year-on-year (YoY) basis. During this quarter, we added about 113,000 new clients, this is the highest addition we have done in the last six quarters.”

Watch the full video for more.

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