Mumbai, October 12, 2017: Reliance Securities, the Broking & Distribution arm of Reliance Capital, announced its financial results for the quarter ended September 30, 2017.
The total income, for the quarter ended September 30, 2017, was Rs 83 crore (US$ 13 million) - a YoY increase of 5%.
Profit Before Tax rose to Rs. 13 crore (US$ 2 million) in Q2FY18, as against a profit of Rs. 7 crore in Q1FY18.
In equity broking, the average daily stock exchange turnover grew to Rs. 4,144 crore (US$ 637 million)- a YoY increase of 52%. The average daily turnover in cash - equity segment rose by 33% to Rs. 299 crore (US$ 46 Million)
As on September 30, 2017, there were over 8.3 lakh broking accounts - YoY increase 6%.
In commodity broking, as on September 30, 2017, the commodity broking accounts rose by 38% to over 93,800, with average daily commodities turnover of Rs. 286 crore (US$ 44 million) Wealth Management continued its robust growth and ended with Assets under Management (AUM) of Rs. 5,040 Crore (US$ 775 billion) - a YoY increase of 58%.
“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 undertaken over the last 18 months”, said Mr. B. Gopkumar, ED & CEO, Reliance Securities.
Taking digital transformation to a new level, Reliance Securities is the first in the industry to integrate a fully digital single platform model for broking and distribution. 96% of new accounts were opened digitally enabling clients to trade on the same day.
The business has an extensive geographical footprint of approx. 80 branches and 1,100 customer touch points across India.
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