Brokers’ profits zoom as retail trading takes wing
Other broking firms such as Geojit Financial Services, 5Paisa Capital, SMC Global and Aditya Birla Money rallied over 5 per cent.
Synopsis
Motilal Oswal Fin posted a 70 per cent jump in revenues at Rs 2,108 crore and 262 per cent growth in profits to Rs 197 crore for the year ended March 2021. ICICI Securities has delivered 52 per cent YoY growth in revenue at Rs 2,585 crore in FY21 while profits doubled to Rs 537 crore.
Mumbai: Stock broking firms have emerged among the biggest beneficiaries of the disruptions caused by the Covid-19 pandemic. With retail investors trading in various securities like never before in the past few months, profits of various top stock brokers have more than doubled in FY21 driven by a 50-75 per cent growth in revenues despite challenges around stricter upfront margin norms.
“FY21 has been a landmark year for us and our retail
