Angel One Share Rallies After Monthly Business Update

The dominant player in the brokreage space, 'Angel One' declared their monthly business turnouts for client acquisition and monthly average daily orders.

Client acquisition

After the company's clientele increased by 63.3 per cent to 23.83 million in May 2024 from 14.59 million in May 2023, Angel One added 2.24 per cent amounting to Rs 2,307.75. The brokerage firm's clientele increased from 22.99 million in April 2024 to 3.7 per cent in May 2024 on a month-over-month (MoM) basis.

In May 2024, gross client acquisition was recorded at 0.88 million, representing a 91 per cent increase from the previous month and a 16.9 per cent increase from April 2024.

Average daily Orders (ADO)

May 2024 saw an increase in Angel One's average daily orders (ADO) of Rs 7.56 million, 11.6 per cent MoM basis and 83.5 per cent growth YoY basis.

In May 2024, Angel's total average daily turnover (ADTO) increased by 4.5 per cent month over month and by 98.8 per cent year over year (YoY) to Rs 43,79,900 crore. As of May 2024, the company's ADTO from the F&O segment was Rs 43,21,100 crore, up 4.5 per cent MoM and 99.4 per cent YoY.

The cash segment's ADTO was Rs 8,300 crore in May 2024 (up 9.5 per cent MoM and 144.9 YoY), while the commodity segment's ADTO was Rs 50,600 crore (up 11.6 per cent MoM and up 110.9 per cent YoY).

In May 2024, the company's turnover market share in cash was 17.1 per cent, up 75 basis points month over month and 377 basis points year over year. During the period under review, the company's turnover market share in the commodity segment was at 57.2 per cent, up 18 bps YoY and down 49 bps MoM.

Financials of Angel One.

For the fourth quarter that concluded on March 31, 2024, fintech company Angel One Ltd reported a 27.3 per cent YoY increase in net profit at Rs 340 crore. The prominent player in broking reported a net profit of Rs 267 crore for the corresponding quarter, according to a regulatory filing from the business.

Operating revenue for the company increased by 64.3 per cent to Rs 1,357.2 crore from Rs 826 crore in the same period of the previous fiscal year.

Angel One shares were trading around Rs 2,329 per share on NSE, with day high of Rs 2404 per share