5paisa Capital Q3FY24 Results update
Q3FY24 Consolidated income at Rs. 100.3 Crore, up 20% y-o-y and for nine months FY24 at Rs. 281.9 Crore, up 14% y-o-yQ3FY24 Consolidated profit after tax at Rs. 15.1 Crore, up 37% y-o-y and for nine months FY24 at Rs. 48.7 Crore, up 67% y-o-y
Financial Highlights:
Summary: Quarter ended December 31, 2023 (Consolidated results as per IND AS)
| Rs. Crore | Quarter ended December 31, 2023 | Quarter ended September 30, 2023 | Q-o-Q | Quarter ended December 31, 2022 | Y-o-Y |
| Income | 100.3 | 96.9 | 3% | 83.8 | 20% |
| Profit before tax | 20.2 | 24.9 | (19%) | 14.7 | 37% |
| Profit after tax | 15.1 | 19.0 | (21%) | 11.0 | 37% |
| Total Comprehensive Income | 15.0 | 19.1 | (21%) | 10.9 | 37% |
Summary: Nine months ended December 31, 2023 (Consolidated results as per IND AS)
| Rs. Crore | Nine months ended December 31, 2023 | Nine months ended December 31, 2022 | Y-o-Y |
| Income | 281.9 | 248.1 | 14% |
| Profit before tax | 64.5 | 38.9 | 66% |
| Profit after tax | 48.7 | 29.2 | 67% |
| Total Comprehensive Income | 48.6 | 29.0 | 68% |
Narayan Gangadhar, CEO, 5paisa Capital Ltd., commented on the financial results:
“Q3FY24 has been a milestone quarter for the investors as well as for the industry, with Nifty touching an all-time high and with more than 96 lakh demat accounts being added at the industry level. We have also scaled our client acquisition to 2.32 lakh customers, up 71% q-o-q, reaching a total customer base of 39.6 lakhs and a market share of 2.4% of incremental client acquisitions, which is up 63% q-o-q. Further, our total average daily turnover has gone up to Rs.3.70 trillion, up 80% y-o-y. With all our efforts focused on increasing revenue, improving cost efficiency and on product development, we have succeeded in achieving the highest ever revenue in Q3FY24 of Rs 100.3 Cr, up 20% y-o-y, along with PAT growth of 37% y-o-y. We are confident of accelerating the momentum of our customer acquisitions and revenue in the coming quarters.”
Business highlights
Ø We on-boarded 2.32 lakh new clients during the quarter, taking the total number of registered customers to 3.96 Mn
Ø The 5paisa mobile app had more than 17.4 Mn users at the end of the quarter with a 4.3 star rating on Playstore.
Ø At consolidated level, total income has grown by 20% y-o-y while the operating expenses increased by 16% y-o-y, resulting in total comprehensive income of Rs. 15.0 Cr for the quarter with a growth of 37% y-o-y
Other updates
Appointment of Mr. Ameya Agnihotri as Chief Technology Officer of the Company: Mr. Ameya Agnihotri boasts an impressive 16 year career, having worked with industry giants such as Paytm, Uber, Zeotap, Airpush and Pubmatic, where he held senior positions in the Engineering and Technology teams. His strong background is complemented by his academic achievements, holding Masters and Bachelor’s degrees in Computer Application from the University of Pune.