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Informist, Tuesday, Jul. 14, 2026

 

By Ayush Jaiswal

 

MUMBAI – Angel One Ltd. is expected to report a sharp jump in the net profit for the June quarter despite moderate revenue growth due to growth in trading volume, marginal trading facility, and client base, according to brokerages tracking the company. However, low volume in futures and options will limit the revenue growth in the reporting quarter.

 

The retail broker is expected to report a net profit of INR 2.13 billion for the June quarter, up 86% from INR 1.14 billion in the year-ago quarter, according to the average of estimates from four brokerages. In the year-ago quarter, Angel One's net profit had declined 61% on year due to more than INR-1.0-billion expenses for Indian Premier League partnership and associated media spends. The highest estimate for the company's June quarter net profit is INR 2.26 billion from Yes Securities (India) Ltd. and the lowest is INR 1.97 billion from Motilal Oswal Financial Services Ltd.

 

The June quarter net profit will be down 34% sequentially according to the estimates because while trading was strong, it was below the levels seen in the March quarter, JM Financial Institutional Securities Pvt. Ltd. said. The rise in customer acquisition cost due to the spend on the Indian Premier League will also hurt the company's June quarter net profit. The operating profit of the company is also expected to decline over 20% on quarter, due to a rise in other operating expenses such as fees and commissions, Yes Securities said.

 

The company's June quarter revenue is expected to grow 9% on year to INR 12.44 billion, according to the average of estimates. The highest estimate for revenue is INR 14.46 billion from Yes Securities and the lowest is INR 9.92 billion from Motilal Oswal.

 

The company's broking orders are likely to grow 18% on year in the June quarter and the marginal trading facility book is expected to grow 45% on year, Kotak Securities Ltd. said. Angel One's order volume is expected to decline over 5% on quarter, leading to a 6.4% sequential decline in fees and commission income, Yes Securities said. The company said its total client base has increased to 38.6 million in June from 37.4 million in March.

 

In the Indian stock market, volatility levels are tapering off and hence derivatives volumes are likely to cool off further, which will likely be offset by stronger volumes in the cash segment and the marginal trading facility, according to Kotak Securities Ltd. Angel One's derivatives segment orders were 320 million in the March quarter and constituted around 74% of its total orders.

Investors will watch for updates on the performance of new business verticals, particularly asset management and wealth management segment.

 

Angel One is a stock, commodity, and currency broker which offers services to retail and institutional customers. It also offers margin trading facility, depository services, distributes mutual funds, gives loans as a non-banking finance company, and acts as a corporate agent for insurance companies.

 

All the six research reports on the company available with Informist have a "buy" recommendation on the stock at an average target price of INR 356 per share. This is 4.6% higher than the closing price Monday. The company will disclose its June quarter earnings Wednesday.

 

In the March quarter, Angel One's consolidated net profit was INR 3.2 billion on revenues of INR 14.59 billion. Tuesday, shares of Angel One closed almost 2% down at INR 333.55 on the National Stock Exchange. The share price is up almost 14% since the company announced its March quarter earnings on Apr. 16.

 

The following are the Apr-Jun earnings estimates for Angel One Ltd. from four brokerages in descending order of the estimates of net profit in INR billion:

 

Brokerage Name	Net Sales	Net Profit
Yes Securities (India) Ltd	14.46	2.26
JM Financial Institutional Services Ltd	11.22	2.24
Kotak Securities Ltd	14.15	2.05
Motilal Oswal Financial Services Ltd	9.92	1.97
Average	12.44	2.13

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Deepshikha Bhardwaj

 

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