Reliance Securities, the Broking & Distribution arm of Reliance Capital, announced its financial results for the quarter ended September 30, 2018. The performance highlights are:
- For the quarter ended September 30, 2018, the total income was Rs. 88 crore (US$ 13 million) - a YoY increase of 16%
- For the quarter ended September 30, 2018, the Profit before Tax rose to Rs. 9 crore (US$ 1 million) - a YoY increase of 7%
- In equity broking, the average daily stock exchange turnover grew to Rs. 5,618 crore (US$ 803 million) - a YoY increase of 36%. The average daily turnover in cash - equity segment was at Rs. 290 crore (US$ 41 million)
- As on September 30, 2018, there were over 8.7 lakh broking accounts - a YoY increase 4%
- As on September 30, 2018, the commodity broking accounts rose by 10% to over 1,03,000, while average daily commodities turnover increased by 36% to Rs. 331 crore (US$ 47 million)
- Wealth Management: Assets under Management at approx. Rs. 4,000 crore (US$ 571 million)
"We witnessed consistent growth both in our topline & profitability, which is primarily driven by our healthy customer acquisition rate and strong activation frame-work. Steady increase in our cash segment volumes and focus on distribution products is helping us propel our growth sequentially", 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. 95% of new accounts were opened digitally enabling clients to trade on the same day.
The business has an extensive geographical footprint of 110 branches and approx. 1,300 customer touch points across India.
Shares of RELIANCE CAPITAL LTD. was last trading in BSE at Rs.252.8 as compared to the previous close of Rs. 248.15. The total number of shares traded during the day was 733923 in over 6373 trades.
The stock hit an intraday high of Rs. 261.65 and intraday low of 251.35. The net turnover during the day was Rs. 187794899.