Motilal Oswal: ICICI Securities Posts Strong All-Round Performance In Q2
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Motilal Oswal Report
ICICI Securities Ltd.’s profit after tax grew 44% QoQ / 106% YoY to Rs 2.8 billion (27% beat).
The beat was driven by higher-than-expected investment banking revenue and interest income, coupled with in-line opex.
Total revenue grew 25% QoQ to Rs 6.8 billion, driven by -
- 10% QoQ growth in brokerage income to Rs 3.92 billion,
- 69% QoQ growth in income from services (distribution and Investment banking revenue), and
- 44% QoQ growth in interest income to Rs 898 million.
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