5paisa Capital stock jumps 5%, hits 52-week high on robust Q2 results

So far this year, the stock of this smallcap company has jumped 61 percent as against a 7 percent rise in the Sensex benchmark

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Shares of 5paisa Capital rallied 5 percent to hit 52-week high of Rs 494 per share on BSE on October 19 after the company’s consolidated total income from operations jumped 21 percent year-on-year (YoY) to Rs 96 crore in the July-September quarter of fiscal year 2023-24 (Q2FY24). The S&P BSE Sensex was down 430 points or 0.6 percent to 65,446 levels, as of 9:35 am.

So far this year, the stock of this smallcap company has jumped 61 percent as against a 7 percent rise in the Sensex benchmark.

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In Q2FY24, the company reported highest-ever profitability, with profit-after-tax (PAT) growing 77 percent YoY to Rs 19 crore from Rs 10 crore in the year-ago period.

Profit margin, too, expanded by 400 basis points (bps) to 17 percent in the September-ended quarter from 13 percent in Q2FY23.

On the other hand, the company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) rose to Rs 27 crore in Q2FY24 versus Rs 16 crore in the Q2FY23.

However, total expenses of the company grew 9 percent YoY to Rs 72 crore in Q2FY24.

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The management highlighted that total orders of the company climbed to 48 million in the September-ended quarter from 32 million in the year-ago period. Besides that, average daily turnover jumped to Rs 3.6 lakh crore in Q2FY24 from Rs 1.6 lakh crore in the year-ago period.

On the client funding book, average client funding book size moderated to 2,686 million in Q2FY24 from 2,875 in the year-ago period.

5paisa Capital, a discount brokerage arm of IIFL Holdings provides business of equity research, equities, commodities, trading, and investment banking services. They also deal with portfolio management services, which entails mutual fund, life insurance, fixed deposits, gold bonds and other small savings instruments.

This company is one of the leading players in retail broking and insurance distribution and is also worked on non-banking financial services and wealth management franchises.

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