ICICI Securities' Q2 net profit doubles to Rs 278 cr

Mumbai, Oct 28 (IANS) ICICI Securities on Wednesday reported two-fold rise in its consolidated net profit for the quarter ended September at Rs 278 crore.During the same period of the last fiscal (FY20), the company had reported a consolidated net profit of Rs 135 crore.The growth in profit came on the back of growth in revenue and improvement in margins, the company said in a statement.Its consolidated revenue rose 63 per cent on a year-on-year basis to Rs 680 crore during the quarter under review aided by strong growth in equities and allied business, private wealth management business, as well as investment banking business.Managing Director and CEO Vijay Chandok said: "Most of our businesses have performed well, with the equity and allied business leading the way. We also witnessed recovery in other segments as business sentiment is improving with economic activities picking up."
--IANS rrb/sn/vd