Capital Markets company Choice International announced Q1FY25 results:
Consolidated Financial Highlights:
- Total Revenue of Rs 205.9 crore v/s. Rs 139.3 crore, up by 48%
- EBITDA of Rs.58.2 crore v/s. Rs 37.6 crore, up by 55%. EBITDA Margins of 28.27% v/s 26.99%
- PAT of Rs.32.0 crore v/s.Rs 21.3 crore, up by 51%. PAT Margins of 15.54% v/s 15.29%
- Revenue contribution of 67% by Broking & Distribution, 21% by Advisory and 12% by NBFC
Business Highlights:
- Number of Demat Accounts stood at 890K, a growth of 23% YoY
- AUM for Stock Broking stood at Rs 41.3K crore, a staggering growth of 28% YoY
- AUM for Mutual Funds stood at Rs 878 crore, a spike of 111% YoY
- Insurance premium generated Rs 47 crore, an increase of 39% YoY
- Number of policies sold stood at 26,916, a surge of 236% YoY
- Total Loan book for NBFC at the end of Q1 FY25 stood at Rs 453 crore
- Retail Loan Book for Q1 FY25 stood at Rs 286 crore
- Net-Non-Performing assets (NNPA) as on 30t Jun, 2024 was 1.25%
- Advisory Order book stood at Rs 545 crore
Commenting on the Q1FY25 performance Kamal Poddar, Managing Director said: "The Indian economy has started the new financial year on a strong note, establishing a solid foundation for the year ahead. Q1FY25, being focused on elections, led to a stock market rally, with Nifty and Sensex reaching alltime highs and providing excellent returns to investors. Choice has also ended the quarter on a higher note, clocking a revenue growth of 48%, achieving Q1FY25 revenue of Rs 206 crore. Our EBITDA and PAT for Q1FY25 stood at Rs 58 crore and Rs 32 crore respectively, further solidifying our success. Our steady performance in the first quarter underscores our commitment to achieving the financial goals we set for this year."