5Paisa Capital Hits 52-Week High On Reporting First Ever Quarterly Profit.
Introduction:
5Paisa Capital Reports First-Ever Quarterly Profit, Hitting 52-Week High
As a result of the company reporting a net profit of Rs 3.74 crore for the quarter that ended in June as opposed to a loss of Rs 55 lakh during the same period a year before, shares of 5Paisa Capital were trapped in a 5 percent upper circuit on Tuesday at Rs 324.60.
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Since its March 2016 inception, 5Paisa has never before reported a quarterly profit. In the quarter that ended in June, the discount broking company’s overall consolidated income increased by 85% to Rs 42.44 crore, supported by improved trading activity and carefully controlled expense growth.
The management said that it acquired more over 1.6 lakh customers, its highest quarterly total, between April and June 2020. According to some news reports, millennials have developed an interest in both Indian and US capital markets as a result of the pandemic and resulting work-from-home trend. The management is confident that the business is about to embark on a period of significant investment and expansion.
Through its mobile applications and online technology platform, 5paisa Capital provides financial solutions. It is registered as a stockbroker, depository participant, and research analyst with the Securities and Exchange Board of India (Sebi) and as a mutual fund distributor with the Association of Mutual Funds in India (Amfi).
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The post 5Paisa Capital Hits. appeared first on ASWGROUPINDIA.
