ICICI Securities Stock Update: Leading Investment Services Firm ISec Reports Marginal Increase Of Three Percent In Net Profit

Investment services firm ICICI Securities Stock (ISec) on October 19, 2018, announced an ascent of three percent in its net benefit for the second quarter of 2018-19.

As indicated by the organization, its Q2 net benefit expanded to Rs 134 crore from Rs 130 crore detailed for the comparing time of the past financial year.

For the July-September 2018 quarter, incomes came in at Rs 458 crore, up 1 percent from Rs 455 crore in Q2 of 2017-18.

In a related improvement, independent executive Vinod Kumar Dhall has selected as the administrator. Managing Director and CEO Shilpa Kumar: “We have sustained revenue and profit growth for the half year in an otherwise muted market. In the broking business, we continue to sustain our market share and have maintained our leadership position. We are focused on revenue diversification through cross-sell and are garnering scale in several of our newer initiatives like financial advisory businesses.”

ICICI Securities Stock key Products/Revenue Segments incorporate Income From Brokerage and Commission which contributed Rs 775.59 Crore to Sales Value (55.28 percent of Total Sales), Other Services which contributed Rs 498.29 Crore to Sales Value (35.51 percent of Total Sales), Interest which contributed Rs 107.71 Crore to Sales Value (7.67 percent of Total Sales), Income From Sale Of Share and Securities which contributed Rs 21.39 Crore to Sales Value (1.52 percent of Total Sales) and Dividend which contributed Rs .02 Crore to Sales Value (0.00 percent of Total Sales)for the year finishing 31-Mar-2017.

The investment benefits company’s revenues amid the quarter under audit rose to Rs 458 crore from Rs 455 crore earned amid the like time of the past monetary. The organization looks ready to put resources into innovation and development “to take advantage of the macroeconomic trends of increasing financialization and equitization in household savings”.

ICICI Securities, some portion of the ICICI Group, additionally declared an interval profit of Rs 3.70 for every share. The stock shut 4 percent down on the BSE today, according to the report of Economic Times.

In another development of ICICI securities stock, the organization’s Independent Director Vinod Kumar Dhall has been appointed as the Chairman of the Board of Directors of the firm, according to the report of Business Standard.

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