ICICI Securities gains nearly 2% after 26% jump in Q2 profit

NEW DELHI: Shares of ICICI Securities gained almost 2 per cent on Wednesday after the company reported a 26 per cent rise in net profit to Rs 351 crore in July-September from Rs 278 crore a year ago.

At 09:45 hours (IST) the company’s scrip was trading at Rs 836.10 on the National Stock Exchange, registering a gain of 1.99 per cent from previous close.

In an exchange filing on Tuesday, the company, which is a subsidiary of ICICI Bank, said that the strong showing in July-September was on account of robust growth across business segments.

In the previous quarter, ICICI Securities’ revenue jumped to Rs 857 crore from Rs 680 crore a year ago.

The company’s board has declared an interim dividend of Rs 11.25 per share in July-September s against Rs 8 per share over the same period a year ago.