Angel One witnessed a significant decline in its stock value early on Tuesday following the company's release of Q3 FY24 numbers on Monday post-market hours. The company reported a net profit of ₹260 crore in Q3FY24, reflecting a 14.50% quarter-on-quarter (QoQ) decrease but showing a positive 14% year-on-year (YoY) improvement.Its total revenue from operations for Q3FY24 increased by 1% QoQ and 41% YoY, reaching ₹1,059 crore. During the quarter, Angel One achieved the highest-ever client addition, welcoming 2.5 million clients. As of the end of December 2023, the company's client base had expanded to 19.5 million, marking a 14% increase on a QoQ basis and a healthy 55% growth YoY.In terms of transactions, the number of orders stood at 350 million in 3QFY24, up 54% YoY. Its average daily turnover (ADTO) surged to ₹36 trillion in Q3FY24, representing a 21.4% QoQ jump and a 148.5% surge on a year-on-year basis.
The company's retail turnover market share in the overall equity segment stood at 26.8% in Q3FY24, marking a 529 basis point improvement on a YoY basis, as per the company's exchange filing.
The company maintained its No. 2 rank in Incremental NSE Active Clients. In the quarter, the company's share in NSE active clients increased to 14.8%, marking a growth of 273 basis points.
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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 sustained improvement in our NPS, Playstore, and Appstore rankings," he added.
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Despite posting a decent set of numbers for the December ending quarter, the company's shares commenced today's trade at ₹3,500 apiece, reflecting a 9.60% decrease compared to the previous closing price of ₹3,875. Subsequently, the stock experienced a further decline, reaching a two-week low of ₹3,392 apiece, reflecting a notable 12.5% decrease.
However, since listing in 2020, the company shares have been delivering solid returns year after year. In CY21, the stock delivered a multi-bagger return of 250%, and in the following year, it rallied 11%. In CY23, it gained another 166%, and in the current month so far, it is up by 1.50%.At 10:15 am, the stock was trading with a drop of 12.30% at ₹3,409 apiece.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
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