5paisa Capital Q4 consolidated income up 41 pc at Rs 50 crore
Mumbai : 5paisa Capital's total consolidated income stood at Rs 49.9 crore for the January to March quarter, up 41 per cent year-on-year from Rs 35.4 crore from Q4 FY20.
The online platform clocked total consolidated income of Rs 194.6 crore for the entire financial year 2020-21, up 80 per cent from Rs 108.2 crore in FY20.
Its total comprehensive income stood at Rs 6.2 crore in Q4 FY21, up 452 per cent from a loss of Rs 1.76 crore in the same period of previous fiscal. For FY21, it reported 282 per cent jump in total comprehensive income of Rs 14.7 crore from a loss of Rs 8 crore.
"I am delighted to report profit after tax of Rs 14.7 crore for the full year ended March 31, 2021. Our sustained efforts on focusing on growth backed by revenues and cost efficiency has helped us to report full year profits in our fifth year of operations," Prakarsh Gagdani, Whole-Time Director and CEO.
He said the company will embark on with proposed capital infusion of Rs 250 crore. "As a part of our reorientation strategy, 5paisa will transform from being a mere discount broker to a digital financial platform in coming quarters."
The platform on-boarded more than two lakh new clients during Q4 FY21, taking the total number of registered customers to 13.5 lakh. The 5paisa mobile App had about 69.9 lakh downloads at the end of quarter with a 4.0+ star rating on Playstore.
"Our strategy of focusing on profitable growth, sustained revenue stream with multi-product offering, and organic growth of customer acquisition will be the driving force with technology as the sole means to achieve our goal," said Gagdani.
5paisa Capital is currently registered with the Securities and Exchange Board of India (SEBI) as a stock broker, depository participant and research analyst, and with the Association of Mutual Funds in India (AMFI) as a mutual fund distributor.
Its services are targeted at retail investors and high volume traders who actively invest and trade in securities markets, and seek DIY (do-it-yourself) services at a low cost. (ANI)