ICICI Securities' shares zoom nearly 14% after company clocks 28% rise in Q4 net profit

Shares of ICICI Securities on Friday jumped nearly 14 percent, a day after the company reported a 28 percent rise in profit after tax for the March quarter

Press Trust of India May 08, 2020 11:51:30 IST
ICICI Securities' shares zoom nearly 14% after company clocks 28% rise in Q4 net profit

New Delhi: Shares of ICICI Securities on Friday jumped nearly 14 percent, a day after the company reported a 28 percent rise in profit after tax for the March quarter.

The scrip zoomed 13.80 percent to Rs 429 on the BSE.

On the NSE, it rose 13.77 percent to Rs 430.

ICICI Securities shares zoom nearly 14 after company clocks 28 rise in Q4 net profit

Representational image. Reuters.

ICICI Securities on Thursday reported a 28 percent increase in profit after tax at Rs 156 crore for the March quarter on account of growth in revenue and changes in statutory tax rates.

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In comparison, the company had posted a profit after tax (PAT) of Rs 122 crore in the corresponding period of 2018-19, ICICI Securities (I-Sec) said in a statement.

The financial services firm''s revenue rose 13 percent to Rs 482 crore in the quarter under review from Rs 428 crore in the year-ago period, supported by growth in retail equities and allied business.

I-Sec attributed the increase in quarterly PAT to growth in revenue and changes in the statutory tax rates.

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