Introduction:
ICICI Securities has reported a remarkable surge in its consolidated net profit for the quarter ended June 2024, showcasing a robust financial performance. The net profit soared by an impressive 94.55% to reach Rs 526.91 crore, compared to Rs 270.84 crore in the same quarter of the previous year, June 2023.
Exceptional Financial Growth
This substantial increase in net profit is paralleled by a significant rise in sales. ICICI Securities’ sales climbed 75.60%, totaling Rs 1640.69 crore in the June 2024 quarter, up from Rs 934.31 crore in the corresponding quarter of the previous year. This impressive growth in revenue underscores the company’s strong market position and effective business strategies.
Key Financial Metrics
1. Sales:
- June 2024: Rs 1640.69 crore
- June 2023: Rs 934.31 crore
- % Variation: 76%
2. Operating Profit Margin (OPM) %:
June 2024: 69.15%
June 2023: 61.13%
3. Profit Before Depreciation and Tax (PBDT):
June 2024: Rs 744.14 crore
June 2023: Rs 386.68 crore
% Variation: 92%
4. Profit Before Tax (PBT):
- June 2024: Rs 707.53 crore
- June 2023: Rs 364.37 crore
- % Variation: 94%
5. Net Profit (NP):
- June 2024: Rs 526.91 crore
- June 2023: Rs 270.84 crore
- % Variation: 95%
Strategic Insights
The company’s remarkable performance in the June 2024 quarter can be attributed to several strategic initiatives and favorable market conditions. The significant increase in sales and profitability highlights ICICI Securities’ ability to capitalize on market opportunities and enhance its revenue streams. The rise in operating profit margin to 69.15% from 61.13% indicates improved operational efficiency and cost management.
Conclusion
ICICI Securities’ financial results for the June 2024 quarter reflect its strong growth trajectory and resilience in a competitive market environment. The substantial rise in net profit, sales, and other key financial metrics underscores the company’s strategic vision and execution capabilities. As ICICI Securities continues to innovate and expand its services, it is well-positioned to sustain its growth momentum and deliver value to its stakeholders.
Frequently Asked Questions (FAQ)
1. What was the consolidated net profit of ICICI Securities in the June 2024 quarter?
The consolidated net profit of ICICI Securities in the June 2024 quarter was Rs 526.91 crore.
2. How much did ICICI Securities’ net profit increase compared to the same quarter in the previous year?
ICICI Securities’ net profit increased by 94.55% compared to the same quarter in the previous year.
3. What were the sales figures for ICICI Securities in the June 2024 quarter?
The sales figures for ICICI Securities in the June 2024 quarter were Rs 1640.69 crore.
4. How much did sales increase compared to the June 2023 quarter?
Sales increased by 75.60% compared to the June 2023 quarter.
5. What was the operating profit margin (OPM) for ICICI Securities in the June 2024 quarter?
The operating profit margin (OPM) for ICICI Securities in the June 2024 quarter was 69.15%.
6. How does the June 2024 operating profit margin compare to the June 2023 quarter?
The operating profit margin in the June 2024 quarter increased from 61.13% in the June 2023 quarter.
7. What was the Profit Before Depreciation and Tax (PBDT) for the June 2024 quarter?
The Profit Before Depreciation and Tax (PBDT) for the June 2024 quarter was Rs 744.14 crore.
8. What was the Profit Before Tax (PBT) for the June 2024 quarter?
The Profit Before Tax (PBT) for the June 2024 quarter was Rs 707.53 crore.
9. How much did the Profit Before Tax (PBT) increase compared to the June 2023 quarter?
The Profit Before Tax (PBT) increased by 94% compared to the June 2023 quarter.
10. What were the net profit figures for ICICI Securities in the June 2023 quarter?
The net profit figures for ICICI Securities in the June 2023 quarter were Rs 270.84 crore.
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