Share India Securities Ltd outperforms market indicators to register another robust quarter

Share India Securities Limited, one of India's leading technology-based financial conglomerates continued its growth trajectory, closing the first quarter of F.Y. 2022-23 with industry-leading growth in both revenue and PAT.

The Consolidated Revenue of the Company grew by more than 50% year on year to ₹233.24 Croreagainst ₹154.63 Crore in the corresponding quarter last year. The Company, along with its subsidiaries, continued to maintain its track record of consistency in performance through the different market and macroeconomic cycles due to its diversified business model. The consolidated profit after tax (after minority interest) swelled from ₹34.18 Crore to ₹59.17 Crore. The Company has built a credible track record in building scale and delivering high growth consistently.

Share India Securities Limited is a key player in the Indian derivative market segment and is a pioneer when it comes to technology and has maintained its position because of constant innovation and R&D. Share India continues to develop its product portfolio and will expand its customer base along with enhancing customer experience. Going forward the company will further hone customers' access to algorithm-based trading.

Backed by its network of 850 AP/Franchises company's Average Daily Turnover (ADTO) grew from ₹9400 Crore last year in the corresponding first quarter to a staggering ₹13,800 Crore this quarter. Earning per share grew from ₹10.71 to ₹18.47 YoY.

Commenting on the announcement of results, Mr. Kamlesh Shah, Managing Director, Share India Securities Limited, said, "This Our growth has been made possible because of our continuous intent and investment in technology and provides clients with unparalleled trading experience. Even though there has been some uncertainty in the market, our company has shown significant growth owing to our strong fundamentals and commitment to our customers."

Mr. Sachin Gupta, CEO, and Whole Time Director, Share India said, "We will continueto innovate in multiple directions to sustain this growth trajectory. The impetus will be on introducing world-class internet-based technology platforms that allow us to take the pole position in the retail market."

Shares of Share India Securities Limited was last trading in BSE at Rs. 1169.05 as compared to the previous close of Rs. 1197.20. The total number of shares traded during the day was 4758 in over 1326 trades.

The stock hit an intraday high of Rs. 1224.00 and intraday low of 1160.00. The net turnover during the day was Rs. 5641738.00.

Source : Equity Bulls

Keywords

ShareIndiaSecurities INE932X01018 Q1FY2023 ResultUpdate