Highest Ever -2.5 Mn -Clients Added By Angel One In Q3

Angel One's PAT for the Quarter ended December 31, 2023 is Rs2,603 million vs Rs2,280 in Q3 '23, an increase of 14.17% YoY basis

Dinesh Thakkar

FinTech BizNews Service   

Mumbai, January 16, 2024: Angel One Ltd. has declared financial results for the period ended December 31, 2023. Angel One’s profit after tax (PAT) for the Quarter ended December 31, 2023 is Rs2,603 million vs Rs2,280 in Q3 ’23, an increase of 14.17% YoY basis.

·   Ranked 2nd in India in incremental NSE Active Client base with 5.3 Million an increase of 25.8% YoY.

·  Average Daily Turnover stood at Rs 36.0 trillion in Q3 ‘24 vs Rs 29.6 trillion in Q2 ‘24, a growth of 21.4% on QoQ Basis.

·   Highest-ever clients added in a quarter at 2.5 mn, a growth of 16.2% on QoQ basis. Client base stood at nearly 19.5 mn, a growth of 14.0% on QoQ Basis

Commenting on Angel One’s performance, Mr. Dinesh Thakkar, Chairman & Managing Director said, ”Angel One has always focused its efforts to offer clients the most suitable products, in a seamless and efficient manner, by harnessing the power of data and technology. Our digital assets are continuously evolving, enriched with innovative features to ensure an unparalleled investing experience. We undertook process improvements, to ease the onboarding experience and incorporated some unique features, for both new and experienced clients, thus simplifying their investment journey on the app. These focused efforts yielded into sustained improvement in our NPS and Playstore and Appstore rankings.

It is through such exceptional experiences, that clients choose to remain engaged on our platform, over the long-term. This has led to constant expansion in our market share, across multiple metrics and maintain very robust unit economics. A testimony to the effectiveness of our Super App strategy, is clearly visible from our accomplishment in distributing Mutual Funds, as we continue to be India’s second largest player for incremental registered SIPs. We are in the process of expanding our offerings to partner with our clients at every important phase of their lives, as we extend our touchpoints in distributing credit and fixed income products.

Our sustained growth is a testament to the success of our data-driven strategy, as we reap benefits of vast pool of data and leverage it to create models using complex algorithms. This equips us to swiftly adapt to market shifts, thus ensuring our strategies remain agile and responsive.

We sharpened focus on our content strategy, forming the bedrock to engage and educate people about various financial products. We will leverage social media, communities and users to promote awareness, and will be rolling out multiple content initiatives.

I am delighted with our historic performance in Q3 ‘24, as we acquired more than a million clients in a month and 2.5 million clients in a quarter for the first time, accounting for nearly a quarter of the industry’s net client addition.

In line with our established dividend policy, the Board of Directors has approved the distribution of 41% of the quarter's profit as a third interim dividend, reaffirming our commitment to delivering value to our shareholders.”


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