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HDFC Securities strong numbers in FY22, PAT zooms 40%

Leading brokerage firm HDFC Securities has announced its results for the period ending March 31, 2022 on April 13. The company was able to clock a total income from operation of Rs 505.61 crore, an increase of 21 per cent compared to Rs 417.7 crore in the same period previous year.

However, the company reported a marginal drop of 4 per cent in the profit after tax to Rs 235.62 crore in Q4FY22 from Rs 244.53 crore in Q4FY21. However, the operation profit (EBIT) remained almost flat to Rs 316.2 crore in the quarter ended on March 31, 2022.

On a sequential basis, the company reported a decline of 9 per cent in the net profit from 258.03, whereas the total revenue plunged 5 per cent from Rs 532.61 crore. Operational profit in the December 2021 quarter stood at Rs 347.09 crore.

HDFC Securities is the broking arm of HDFC Bank, which is the largest private lender of the company. The company is entitled with a strong parentage of HDFC group, which is the largest and most premium financial services group in the country. HDFC group is among the largest conglomerates of India.

For the financial year 2021-22, the brokerage firm reported a 40 per cent rise in the net profit to Rs 984.34 crore from Rs 703.23 crore. Revenue from the operation jumped 44 per cent to Rs 1,975.57 crore from Rs 1,368.16 crore during the period under review.

For the entire financial year 2021-22, HDFC Securities announced an interim dividend aggregating to Rs 547 per equity share in four tranches, with a total sum payable as dividend aggregating to Rs 864.62 crore.

During the period, the Company had issued commercial papers of Rs 16,650.00 crore and redeemed commercial papers of Rs 14,250.00 crore.

The COVID -19 pandemic continues to have a considerable impact on economic activities across the various parts of the country and across the globe, the company said in its statement.

“The Government of India and various state governments have introduced a series of initiatives over the past year including lockdowns in order to contain the impact of the virus,” it added.

Stock broking and depository services have been declared as essential services all through the year and accordingly, the Company has faced nobusiness stoppage/interruption on account of the lockdown, said Dheeraj Relli, Managing Director of HDFC Securities.

HDFC Securities has completed more than two decades in the industry and brags an extensive network of branches across all major cities and towns in the nation.

Mumbai headquartered HDFC Securities is a corporate member of both the BSE and the NSE. HDFC securities is well known with professional traders for its comprehensive online trading portal offerings.

As of March 31, 2021, the broking firm had about 300 branches in more than 160 cities in the country. It also has multiple digital platforms to enable its customers to have easy access to its products.

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