Angel One Limited — Updates, 13-01-2025: Press Release

**Financial Highlights:**

In Q3 FY25, Angel One reported a total net income of ₹9.9 billion, marking a 17.7% decrease quarter-on-quarter (QoQ). The profit after tax from continuing operations stood at ₹2.8 billion, down 30.3% from the prior quarter. Despite these declines, the company's earnings before depreciation, amortization, and tax (EBDAT) remained robust, with a margin of 42%, reflecting its solid operational efficiency.

**Strategic Initiatives and Growth Drivers:**

Angel One continues to enhance its diversified financial service offerings, focusing on broking, margin trading, mutual fund distribution, and emerging wealth management opportunities, capitalizing on India's under-penetrated market.

**Business Developments:**

The company saw a net client addition of 1.2 million, bringing the total client base to 29.5 million. Angel maintains a strong position, holding a 15.9% share of India’s demat accounts, second in market rank for incremental NSE active clients.

**Market Position and Competitive Advantage:**

Angel One's integration of technology-driven services positions it competitively within the rapidly growing fintech landscape, enhancing customer engagement and driving transaction volumes, despite overall market challenges.

**Investor Implications:**

Although Q3 showed some profitability pressures, Angel One's significant market share gains and expanding service offerings suggest a positive outlook. Investors should watch closely for continued client growth and potential recovery in revenue streams, positioning the company well for future performance.