5Paisa Capital opened at Rs.324.60, hitting the roof, getting locked at the 5% UC of the day. This is also a new 52-week high for the stock.
The stock took everyone by surprise, posting a net profit of Rs.4 crore for Q1FY21 v/s loss of Rs.55 lakh (YoY). This is the first time since 2016 when the company was launched that it has posted a profit.
Its consolidated income rose 85% to Rs.42 crore, mainly on the back of improved trading activity, new client acquisitions, higher cross-sell of financial products and successfully curtailed expense growth.
The company had over 160,000 acquisitions in the quarter, crossing 700,000 customers in total.
The company said, “With the pandemic accelerating digital growth, millennials thronging to capital markets, and a buoyant stock market, I am optimistic that we are entering a new era of investing and incredible growth in coming quarters.”
5Paisa Capital is engaged in providing financial products through its online technology platform and mobile applications. It is registered with SEBI as a stock broker, depository participant and research analyst, and with 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.