INSUBCONTINENT EXCLUSIVE:
Leading investment services firm ICICI Securities (ISec) today reported a marginal increase of 3 per cent in net profit at Rs 134 crore for
July-September, driven by its broking business.
Profit after tax (PAT) stood at Rs 130 crore in the year-ago period.
For the July-September
2018 quarter, revenues came in at Rs 458 crore, up 1 per cent from Rs 455 crore in Q2 of 2017-18.
In a related development, independent
director Vinod Kumar Dhall has been appointed as the chairman
In the broking business, we continue to sustain our market share and have maintained our leadership position
We are focused on revenue diversification through cross sell and are garnering scale in several of our newer initiatives like financial
advisory businesses."
The company looks poised to invest in technology and innovation "to take advantage of the macroeconomic trends of
increasing financialisation and equitisation in household savings".
ICICI Securities, part of the ICICI Group, also announced an interim
dividend of Rs 3.70 per share.
The stock closed 4 per cent down on the BSE today.
