Arihant Capital posts strong Q1 performance, net profit jumps over 50 per cent
Its interest income on a standalone basis amounted to Rs 12.29 crore versus Rs 11.71 crore in the same quarter of the last fiscal.
Arihant Capital Markets, a small-cap company with a market capitalisation of Rs 588 crore, has released its quarterly results. The company in a statement on BSE said that it reported a 54 per cent rise in the net profit in the April-June quarter YoY. The net profit in the quarter stood at Rs 11.55 crore.
The firm had clocked a net profit of Rs 7.45 crore in the corresponding quarter of the previous financial year.
Its revenue from operations jumped more than 22 per cent YoY in the June quarter to Rs 42.79 crore as against Rs 34.78 crore in the year-ago period.
Its interest income on a standalone basis amounted to Rs 12.29 crore versus Rs 11.71 crore in the same quarter of the last fiscal.
The company in its statement added that it increased its client acquisition rate through a digital-first approach and looks forward to widen the base. The management has set an aim to onboard 5 lakh new customers.
Besides, it has plans to raise funds to meet the growing demand of existing customers and scale its overall book.
Arihant Capital is a leading financial services firm. It is also investing in technology to drive its operations and the top line.
On Monday, the stock settled lower at Rs 56 on BSE. The stock has delivered multibagger returns of more than 400 per cent in the last 3 years.
Arihant Capital, incorporated in 1992 as a stock broking firm, provides a wide range of financial products and services in equities, commodities, currency trading, financial planning and investment banking among others.
Meanwhile, Sensex climbed 232.23 points or 0.35 per cent to settle at 65,953.48 today. During the day, it jumped 346.65 points or 0.52 per cent to 66,067.90. The NSE Nifty advanced 80.30 points or 0.41 per cent to end at 19,597.30.
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