Mumbai: Reliance Securities, the broking and distribution arm of Anil Ambani-led Reliance Capital, said on Thursday it registered 149 percent growth in profit after tax of Rs 32 crore during fiscal 2018-19.
This was on a total income of Rs 337 crore which moved up 7 percent. In equity broking, the average daily stock exchange turnover grew to Rs 5,208 crore, marking a year-on-year jump of 16 percent.
As on March 31 this year, Reliance Securities had 9 lakh broking accounts, 5 percent up from last financial year. The commodity broking accounts rose by 6 percent to 1.08 lakh while average daily commodities turnover increased by 20 percent to Rs 327 crore.
The assets under management totaled Rs 3,983 crore, according to a statement.
“Despite market volatility, our customer centricity initiatives helped us manage our unique traded clients which led to 16 percent growth in our average daily turnover,” said B Gopkumar, Executive Director and CEO of Reliance Securities.
About 95 percent of new accounts were opened digitally, enabling clients to trade on the same day. The business has a geographical footprint of over 1,500 customer touch points across India.