ICICI Securities on Wednesday reported an over two-fold increase in profit after tax (PAT) to Rs 329 crore for the three months ended March 2021 on account of growth in revenue and improvement in margins. In comparison, the company had posted a PAT of Rs 156 crore in the same quarter of the preceding fiscal, ICICI Securities said in a statement.
The company attributed the surge in quarterly profit to growth in revenue and improvement in margins. Its revenue climbed 53 per cent to Rs 739 crore in the quarter under review from Rs 482 crore in the three months ended March 31, 2020.
The growth in revenue was aided by strong performance of equities and allied operations, along with distribution, private wealth management and investment banking businesses, it added. ICICI Securities, a subsidiary of ICICI Bank, is a leading retail-led equity franchise, distributor of financial products, and investment bank.
The company has declared a final dividend of Rs 13.5 per share, taking the dividend to Rs 21.5 a share for 2020-21.
"We are happy to report strong all around financial and operational performance during the quarter, which is a testimony of successful implementation of the strategic vision we had articulated earlier and favorable market conditions," said Vijay Chandok, managing director and chief executive officer of the company.