Q1 2024 Angel One Ltd Earnings Call Transcript
Key Points
- Angel One Ltd (BOM:543235) reported its highest ever quarterly total gross revenue at INR14.1 billion, registering a 4% quarter-on-quarter growth.
- The company executed over 13 million orders in a single trading session, establishing a new benchmark.
- Angel One Ltd (BOM:543235) achieved a new milestone in mutual fund distribution with over 0.5 million unique SIP registrations in June 2024 alone.
- The company has moved its processes to new data centers and conducted regular disaster recovery drills to enhance reliability and preparedness.
- Angel One Ltd (BOM:543235) continues to invest in technology, product, and data science to improve client experience and deepen market penetration.
- The company's reported consolidated profit after tax from continuing operations declined by 14% quarter-on-quarter to INR2.9 billion.
- Employee benefit expenses, including cost of granting ESOPs, increased by 27% sequentially, impacting overall profitability.
- Operating expenses grew by 15.5% sequentially, partly due to IPL sponsorship and related digital and media advert spend.
- The company deferred dividend payout for the next few quarters to conserve reserves and optimize the balance sheet.
- There are concerns about the potential impact on revenue and margin from recent regulatory guidelines on true-to-label recovery of exchange turnover charges.
Ladies and gentlemen, good day and welcome to Angel One Limited's Q1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. This conference call may contain forward-looking statements about the company which are based on the beliefs, opinions, and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict.
I now hand the conference over to Mr. Hitul Gutka from Angel One Limited. Thank you and over to you, sir.
Thank you. Good morning and welcome, everyone. Thank you for joining us today to discuss Angel One's Q1 FY25 financial and business performance.
The recording of today's earnings call and transcript will be uploaded on our website under the investor relations section. The financial results, investor presentation and press release are also available on the website. For today's call, Angel One is represented by Dinesh
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