Angel One Reports Mixed Q2 Results, Plans GIFT City Expansion
Angel One's Q2 results show a 49.90% YoY decrease in net profit to ₹2,117.00 million, but an 85.00% QoQ increase. Revenue declined 37.90% YoY to ₹9,410.00 million. Despite financial challenges, operational metrics improved with a 24.00% YoY growth in total client base to 34.1 million. The company plans to establish a branch in GIFT City, subject to approvals.
*this image is generated using AI for illustrative purposes only.
Angel One , a leading Indian FinTech platform, has announced its Q2 financial results, revealing a mixed performance with growth in some areas and declines in others. The company also disclosed plans to establish a new branch in Gujarat International Finance Tec-City (GIFT City), signaling its intent to expand its footprint in India's emerging financial hub.
Financial Performance
Angel One reported a consolidated net profit of ₹2,117.00 million for Q2, marking a significant decrease from ₹4,230.00 million in the same quarter of the previous year. However, it's worth noting that the company saw an 85.00% quarter-on-quarter growth from ₹1,145.00 million in Q1.
The company's revenue also experienced a year-over-year decline, dropping to ₹9,410.00 million from ₹15,150.00 million in the corresponding quarter of the previous fiscal year. Despite this, there was a 5.60% quarter-on-quarter increase from ₹8,913.00 million in Q1.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q2 stood at ₹3,246.00 million, down from ₹6,720.00 million year-over-year. The EBITDA margin decreased to 34.57% from 44.35% in the same period last year.
Here's a summary of the key financial metrics:
| Metric (in ₹ million) | Q2 | Q2 Previous Year | YoY Change | Q1 | QoQ Change |
|---|---|---|---|---|---|
| Net Profit | 2,117.00 | 4,230.00 | -49.90% | 1,145.00 | +85.00% |
| Revenue | 9,410.00 | 15,150.00 | -37.90% | 8,913.00 | +5.60% |
| EBITDA | 3,246.00 | 6,720.00 | -51.70% | 1,944.00 | +67.00% |
| EBITDA Margin | 34.57% | 44.35% | -9.78pp | 21.81% | +12.76pp |
Operational Highlights
Despite the financial challenges, Angel One demonstrated resilience in its operational metrics:
- The total client base grew to 34.1 million, a 24.00% year-over-year increase.
- Gross client acquisition reached 1.7 million, up 41.90% year-over-year.
- The company's share in India's demat accounts increased by 79 basis points year-over-year to 16.50%.
- NSE active client base expanded to 6.9 million, a 6.40% year-over-year growth.
- The number of orders processed increased by 26.30% year-over-year to 360 million.
- Average daily turnover (premium basis) surged by 58.40% year-over-year to ₹1.4 trillion.
Expansion Plans
In a strategic move, Angel One's Board of Directors has approved the establishment of a branch unit in GIFT City, Gandhinagar, Gujarat. This expansion is subject to necessary regulatory and statutory approvals and is expected to open new growth avenues for the company.
Management Commentary
Dinesh Thakkar, Chairman & Managing Director of Angel One, emphasized the company's role in reshaping India's investment landscape through its AI-driven platform. He stated, "With new products and annuity revenues emerging, Angel One is well positioned to lead India's fintech evolution and empower long-term wealth creation."
Ambarish Kenghe, Group CEO, highlighted the company's focus on strengthening client engagement through technology, data, and design. He noted, "Our share in overall retail equity turnover increased by 71 bps to 20.50% — a testament to the resilience and scalability of our model."
As Angel One navigates through a challenging financial environment, its focus on technological innovation and strategic expansion could potentially position it for future growth in India's evolving financial services landscape.
Historical Stock Returns for Angel One
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.69% | +10.27% | +8.58% | +5.47% | -24.17% | +850.52% |
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