Tue Oct 15 16:01:42 UTC 2024: ## Angel One Soars on Strong Q2 Earnings, Reports 44% Revenue Growth

**Mumbai, India:** Angel One, a leading discount broker in India, saw its shares jump nearly 8% on October 15th after reporting a strong set of earnings for the quarter ended September 2024 (Q2 FY25). The company’s net profit surged by 39.1% year-on-year to Rs 423.4 crore, while revenue increased by 44.5% to Rs 1,514.7 crore.

This impressive performance comes amid robust trading activity in the market. Angel One’s market share in demat accounts also rose to 15.7% in the July-September quarter, up from 13.2% a year ago. The company’s EBITDA increased by 51.5% to Rs 671.9 crore, with the margin expanding by 210 basis points to 44.4%.

“With a 19.3% share in the overall retail equity turnover, we continue to report an improvement in market share across all segments,” said Dinesh Thakkar, CMD of Angel One.

The company’s client base also saw significant growth, rising 61% year-on-year to 27.5 million as of September 30th. Gross client acquisition for the quarter jumped by 41% to 3 million.

Despite the strong performance, Angel One’s expenses increased during the quarter due to investments in talent for wealth, tech, product and data analytics.

Angel One’s shares ended the previous session up 1% at Rs 2,729.95 on the National Stock Exchange (NSE). While the stock has underperformed Nifty’s returns by around 24% year-to-date, it has risen approximately 31% in the last year, compared to Nifty’s 27% gain.

**Disclaimer:** This news article is based on publicly available information. Readers are advised to consult with financial professionals before making any investment decisions.

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