Reliance Securities, the Broking & Distribution arm of Reliance Capital, announced its financial results for the quarter ended December 31, 2017.
For the quarter ended December 31, 2017, the total income was Rs. 83 crore (US$ 13 million) – a YoY increase of 2%.
For the quarter ended December 31, 2017, the Profit before Tax rose to Rs. 14 crores (US$ 2 million) as against Rs. 13 crores in Q2 FY18.
In equity broking, the average daily stock exchange turnover grew to Rs. 4,524 crore (US$ 707 million) – a YoY increase of 64%. The average daily turnover in cash – equity segment rose by 61% to Rs. 335 crore (US$ 52 million).
As on December 31, 2017, there were approx. 8.5 lakh broking accounts – a YoY increase 7%.
As on December 31, 2017, the commodity broking accounts rose by 38% to over 98,000, with average daily commodities turnover increased by 5% to Rs. 270 crore (US$ 42 million)
Wealth Management continued its robust growth and ended with Assets under Management (AUM) of Rs. 5,431 Crore (US$ 849 million) – a YoY increase of 51%.
“I am very happy to report that we continue to progress on the path of profitable growth, with a consistent increase in the number of trading clients, coupled with a rise in volume in the Cash Market segment and distribution of investment products. Our evolution is backed by significant digital transformation initiatives across segments”, 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 over 80 branches and 1,300 customer touch points across India.
