By Shares of Angel One surged by over 8% to Rs 2,980 on the NSE on Tuesday following the brokerage firm’s announcement of its best-ever quarterly financial performance.
For the quarter ended September 30, 2024, the company posted impressive gains across key financial metrics, highlighting robust growth and consistent market performance.
Best-ever quarterly results boost investor confidence
Angel One’s consolidated net profit for Q2FY25 reached Rs 423 crore, marking a significant 39% increase compared to Rs 304 crore in the same quarter last year.
The company’s total revenue from operations for Q2FY25 stood at Rs 1,515 crore, a 44.5% increase from Rs 1,048 crore in the year-ago period.
Sequentially, the company’s performance also showed notable improvement, with profit after tax (PAT) rising by 45% from Rs 293 crore in Q1FY25.
The total gross revenue for the quarter also reflected positive momentum, reaching Rs 1,516 crore—up 7.5% from the Rs 1,410 crore reported in the previous quarter.
Angel One’s consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q2FY25 came in at Rs 598 crore, representing a 42.5% jump compared to Rs 419 crore in Q1FY25.
The EBITDA margin as a percentage of net income stood at 49.9%, indicating solid profitability.
Strong client base and increased trading activity drive growth
Angel One’s ability to attract and retain clients has been instrumental in its impressive financial performance.
The company added 30 lakh new clients during Q2FY25, reflecting a 15.9% growth on a quarter-on-quarter basis.
This brings its total client base to 27.5 million, an 11.2% increase compared to the previous quarter.
Additionally, Angel One saw its Average Daily Turnover (ADTO) on a notional basis reach Rs 45.4 lakh crore in Q2FY25, a 3.7% rise from Rs 43.8 lakh crore in Q1FY25.
These figures point to an increased volume of trading activity, contributing to the company’s strong quarterly results.
Technical outlook signals further upside potential
Anshul Jain, Head of Research at Lakshmishree Investment & Securities, noted that Angel One’s stock has given a strong bullish breakout from an 86-day cup and handle pattern.
This technical pattern is often seen as a signal of a potential uptrend, and in Angel One’s case, the stock gapped above its breakout level of Rs 2,800, supported by rising trading volumes.
According to Jain, if Angel One can sustain its price above the Rs 2,800 level, the stock could potentially test Rs 3,250 in the near term.
The broader financial sector’s bullish momentum is also providing additional support for Angel One’s stock, making it a key player for traders and investors alike.
Stock performance shows consistent upward trajectory
Angel One’s stock has delivered positive returns across various time frames, underscoring its resilience and appeal to investors. Over the past month, the stock has provided a positive return of 18.45%.
Over the last three months, its performance has been even more notable, with a 27.51% increase.
On a six-month basis, the stock has also demonstrated positive returns, with a gain of 2.43%.
Most impressively, Angel One’s stock has surged by over 41% in the last 12 months, reflecting the company’s strong market position and consistent financial performance.
Outlook and market sentiment
Angel One’s record performance has come at a time when the broader financial sector is showing strong growth, which is adding further momentum to the stock’s upward trajectory.
With a robust client base, increasing daily trading activity, and a favourable technical outlook, the company appears well-positioned to continue its upward climb in the near term.
As the brokerage firm continues to attract more clients and drive higher trading volumes, it is expected that Angel One will maintain its growth trajectory.
Investors are keeping a close watch on how the company’s performance in the coming quarters will align with its recent success.
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