Angel One's Profit Decline Amid Rising Expenses
Angel One reported a 4.5% decline in profit after tax to Rs 269 crore for the December quarter, impacted by rising operating expenses. The company's total income increased by 5.8% to Rs 1,338 crore. The board approved a stock split of 1:10 to adjust share value.
- Country:
- India
Angel One has announced a 4.5% year-on-year decline in its consolidated profit after tax (PAT), amounting to Rs 269 crore for the December quarter. The slip in profit margins has been attributed to escalating operating expenses.
In contrast, the broking firm's total income saw a rise of 5.8% to Rs 1,338 crore, buoyed by improvements in interest income alongside fees and commission income. This was revealed in a recent regulatory filing.
The board has further rectified a stock split, changing the equity share's face value from Rs 10 to Rs 1, marking a strategic move following the financial performance report.
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