How ICICI Securities Share Price Is Doing After Q4 Results, Dividend

  • Benzinga India
  • Stock Market News
How ICICI Securities Share Price Is Doing After Q4 Results, Dividend

Benzinga - Shares of ICICI Securities (NS: ICCI ) were up on Friday after the brokerage posted robust fourth-quarter growth in its bottom line and declared a final dividend.

What Happened: ICICI Securities announced a sharp rise in its consolidated net profit for the quarter ending March 31, soaring by 104% to reach ₹536.53 crore compared with ₹262.68 crore a year ago. The company’s total consolidated revenue from operations also saw a significant surge, climbing 74.44% to ₹1,543.17 crore from ₹884.78 crore in Q4FY2023.

Sequentially, ICICI Securities reported a net profit increase of over 15% from ₹465.69 crore in the previous quarter, while revenue rose by 16.66% compared to ₹1,322.73 crore.

Across The Board: Following its strong financial performance, the company’s board of directors approved the distribution of a second interim dividend of ₹17 per equity share.

The firm’s interest income showed growth, standing at ₹522.94 crore, up sharply from ₹287.12 crore last year. Brokerage income also witnessed an uptick, reaching ₹585.42 crore for the quarter, compared with ₹310.28 earned a year ago.

However, the company’s debt-to-equity ratio for the January-March quarter increased to 4.25 from 3.26 in the same quarter of FY2023. Meanwhile, the debt service coverage ratio saw a slight decline to 0.18% from 0.21% in the previous year’s quarter.

ICICI Securities is set to be delisted and merged into parent ICICI Bank (NS: ICBK ) after shareholders of the brokerage approved the scheme despite strong opposition from many small retail shareholders.

Price Action: ICICI Securities’ share price was up 0.35% at ₹706 near the start of trade on Friday amid a gloomy start to a trading day, with the broader market down over 0.8%.

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