Reliance Securities, the Broking & Distribution arm of Reliance Capital, announced its financial results for the quarter ended June 30, 2018. The performance highlights are:
- For the quarter ended June 30, 2018, the total income was Rs. 82 crore (US$ 12 million) - a YoY increase of 10%
- For the quarter ended June 30, 2018, the Profit before Tax rose to Rs. 8 crore (US$ 1 million) - a YoY increase of 316%
- In equity broking, the average daily stock exchange turnover grew to Rs. 5,088 crore (US$ 748 million) - a YoY increase of 29%. The average daily turnover in cash - equity segment was at Rs. 248 crore (US$ 47 million)
- As on June 30, 2018, there were approx. 8.6 lakh broking accounts - a YoY increase 5%
- As on June 30, 2018, the commodity broking accounts rose by 21% to over 1,04,000, while average daily commodities turnover increased by 36% to Rs. 318 crore (US$ 47 million)
- Wealth Management continued its robust growth and ended with Assets under Management (AUM) of Rs. 5,136 Crore (US$ 755 million) - a YoY increase of 29%
"Our consistency in quarter over quarter performance is mainly driven by the increase in the volume of Cash Market segment and distribution of investment products, backed by digital transformation initiatives across segments", said Mr. B. Gopkumar, ED & CEO, Reliance Securities.
Continuing with its initiatives in the digital space, Reliance Securities is the first in the industry to integrate a fully digital single platform model for broking and distribution. 97% of new accounts were opened digitally enabling clients to trade on the same day.
The business has an extensive geographical footprint of over 100 branches and approx. 1,300 customer touch points across India.
Shares of RELIANCE CAPITAL LTD. was last trading in BSE at Rs.344.1 as compared to the previous close of Rs. 354.95. The total number of shares traded during the day was 962985 in over 8680 trades.
The stock hit an intraday high of Rs. 356.7 and intraday low of 337. The net turnover during the day was Rs. 330647695.