Angel One , a leading fintech platform in India, has reported a significant rebound in its financial performance for the second quarter, while also announcing plans to expand its operations to GIFT City.

Financial Performance

Angel One's consolidated profit after tax (PAT) for Q2 stood at Rs 2,117.00 crore, marking a substantial 85% increase quarter-on-quarter (QoQ) from Rs 1,145.00 crore in Q1. However, on a year-on-year (YoY) basis, the profit saw a 50% decline from Rs 4,234.00 crore in Q2 of the previous year.

The company's total net income for Q2 reached Rs 9,410.00 crore, up 6% QoQ from Rs 8,913.00 crore in the previous quarter. This growth was primarily driven by a 5% increase in the number of orders processed, which totaled 360 million for the quarter.

Key Performance Indicators

Emerging Business Segments

Angel One reported strong growth across its emerging business segments:

• Mutual Funds: Unique SIPs registered grew by 23.8% QoQ to 2.4 million.
• Credit: Disbursals increased by 97.0% QoQ to Rs 4,600.00 crore.
• Wealth Management: Assets Under Management (AUM) rose by 21.3% QoQ to Rs 61,400.00 crore.
• Asset Management: AUM increased by 16.8% QoQ to Rs 4,000.00 crore, with total folios growing by 50.4% to over 138,000.

GIFT City Expansion

In a strategic move, Angel One's Board of Directors has approved the proposal to set up a branch unit at 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: "Fintech platforms like us are bridging the formal and informal financial worlds, delivering personalized journeys at scale. 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 technology and AI: "Our in-house built chatbot, Ask Angel, is now live, resolving more queries instantly and with higher accuracy. We are also responding to a significant percentage of support emails using AI. Our expanding product universe, deep AI capabilities, and unified digital ecosystem positions us well in India's digital financial services landscape."

Angel One's performance this quarter demonstrates its resilience in a challenging market environment and its commitment to leveraging technology for growth. The planned expansion into GIFT City further underscores the company's ambitions to explore new opportunities in India's evolving financial services sector.

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. Additionally, Angel One is focusing on artificial intelligence-driven financial technology and diversified income sources to drive future growth.

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:

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 and Growth Strategy

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.

Furthermore, Angel One is targeting growth through artificial intelligence-driven financial technology and diversified income sources. The company is positioning itself to leverage AI capabilities in its financial services offerings while working to expand its revenue base across multiple streams.

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, strategic expansion, and AI-driven growth could potentially position it for future success in India's evolving financial services landscape.