In this article, we will delve into the latest developments surrounding ICICI Securities Q2, a topic that’s been sparking interest across the digital landscape. The public is actively searching for insights regarding ICICI Securities Q2 and its recent news. To cater to our readers’ curiosity, we’ve compiled detailed information on ICICI Securities Q2 and its recent news. Keep scrolling to stay informed.
An Important Decision Looms
Today, on Monday, October 16, the board of directors of ICICI Securities Ltd. is poised to make a critical decision—whether to declare an interim dividend and release unaudited financial statements for the quarter and half year concluding on September 30, 2023. If the board decides in favor of the dividend, ICICI Securities has scheduled Friday, October 27, as the record date.
The official statement reads: “We would like to inform you that at its meeting scheduled for Monday, October 16, 2023, in Mumbai, the board of directors of the company will, among other things, consider approval of the unaudited financial results of the Company for the quarter and half year ended September 30, 2023, and the declaration of interim dividend, if any.”
A History of Dividends
In a filing with the stock exchange, ICICI Securities confirmed its intention to make payment for the interim dividend if it’s declared, at the board meeting scheduled for Monday, October 16, 2023. Looking back, ICICI Securities has a history of dividend distributions, with 12 dividends declared since August 21, 2018.
For the last 12 months, ICICI Securities distributed an equity dividend of 19 per share. At the stock’s current price of 630.70, the dividend yield stands at an attractive 3.01%. However, in the three months ending in June 2023, ICICI Securities reported a slight decline in consolidated net profit at 270.9 crore, compared to a net profit of 273.6 crore in the same period of the previous quarter.
Financial Performance Highlights
Despite this decline, the company’s overall operating revenue witnessed a robust 18% YoY growth, surging from 793.5 crore in Q1FY24 to 934.3 crore. The increase in earnings was partially offset by a 33% rise in total expenses, reaching 570 crore in Q1FY24. Notably, the number of customers at ICICI Securities swelled by 2.1 lakh during the quarter, pushing the total count to nearly 93 lakh.
For investors and stakeholders, it’s essential to note that Retail Equities and Allied revenue reached 515 crore, marking an 8% YoY increase, while distribution income stood at 159 crore, reflecting a 4% YoY growth. On the stock market front, the BSE share price of ICICI Securities closed at 630.80 per share, marking a 2.20% decline on Friday.
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FAQs
1. What is the significance of an interim dividend declaration by ICICI Securities?
An interim dividend declaration by ICICI Securities signifies the company’s commitment to distributing profits to its shareholders before the final annual dividend declaration.
2. How does ICICI Securities’ dividend yield compare to market standards?
ICICI Securities’ dividend yield, at 3.01%, is considered attractive by market standards, especially for investors seeking dividend income.
3. What led to the decline in ICICI Securities’ net profit in the last quarter?
The decline in net profit was attributed to specific factors affecting the company’s financial performance, which may have been influenced by market conditions and business strategies.
4. What is the total customer base of ICICI Securities, and how has it grown recently?
ICICI Securities has witnessed a significant increase in its customer base, adding 2.1 lakh customers in the recent quarter, bringing the total to nearly 93 lakh.
5. How does ICICI Securities’ Retail Equities and Allied revenue contribute to its overall financial performance?
Retail Equities and Allied revenue account for a substantial portion of ICICI Securities’ earnings, reflecting an 8% YoY growth and contributing to the company’s financial stability.
