Key Points:
- Angel One Q3 revenue rose 5.76% to Rs 13,348.96M, but profit fell 4.55% to Rs 2,686.64M due to higher costs.
- The board announced a Rs 23 interim dividend and a 10-for-1 stock split.
- Plans to transfer businesses were scrapped; 26% stake taken in life insurance venture.
Angel One Ltd on Thursday reported a 5.76% rise in December-quarter revenue but a 4.55% drop in profit in its Angel One Q3 results, citing higher costs, while announcing an interim dividend and approving a 10-for-1 stock split.
The Mumbai-based broking firm said consolidated revenue for the third quarter of fiscal 2026 rose to Rs 13,348.96 million from a year earlier, while net profit slipped to Rs 2,686.64 million as expenses increased. The results were approved at a board meeting held Jan. 15.
Angel One said revenue growth was supported by higher interest income, even as elevated employee and branding costs pressured margins. “Elevated costs continued to impact profitability on a year-on-year basis,” the company said in a statement accompanying its Angel One Q3 earnings release.
On a sequential basis, revenue rose to Rs 12,017.58 million, reflecting steadier trading activity and balance sheet income. Still, profit growth remained constrained as total expenses climbed to Rs 9,641.54 million, up from Rs 8,764.76 million a year earlier.
Revenue Rises, Costs Weigh on Profitability
Interest income increased to Rs 4,408.62 million during the quarter from Rs 3,493.86 million a year earlier, helping cushion the topline. Income from fees and commissions, however, slipped to Rs 8,895.84 million from Rs 9,052.64 million.
Net gains from fair value changes declined to Rs 44.50 million from Rs 75.56 million in the year-ago quarter, reflecting weaker mark-to-market gains. Employee benefit expenses rose to Rs 2,743.15 million from Rs 2,373.22 million, partly due to an additional gratuity provision following the notification of new labor codes, affecting Angel One Q3 margins.
For the nine months ended Dec. 31, 2025, Angel One reported revenue of Rs 36,771.85 million and net profit of Rs 5,948.62 million. That compares with revenue of Rs 41,823.66 million and profit of Rs 9,975.60 million in the corresponding period last year, indicating a moderation in overall performance.
Dividend, Stock Split Signal Shareholder Focus
Alongside the earnings, the board declared an interim dividend of Rs 23 per equity share of face value Rs 10, marking the company’s first interim payout for fiscal 2026. The record date has been set for Jan. 21, with payment scheduled on or before Feb. 13.
The board also approved a stock split in the ratio of 10-for-1, subdividing each Rs 10 share into 10 shares of face value Re 1 each. “The split is aimed at improving liquidity and making the stock more accessible to retail investors,” the company said.
Following the split, the number of outstanding equity shares will rise to about 908.55 million from 90.86 million, while the total paid-up capital will remain unchanged.
Board Scraps Business Transfer, Adds Insurance Associate
Angel One said its board has withdrawn an earlier proposal to transfer several businesses, including securities broking and mutual fund distribution, to a wholly owned subsidiary through a slump sale. The decision followed a review of internal developments and changes in the external environment, the company said.
During the quarter, Angel One also set up Angel One LivWell Life Insurance Ltd as an associate company, taking a 26% equity stake in partnership with LivWell Holding Company Pte Ltd. The move marks the company’s entry into the life insurance space through a strategic partnership.
As of Dec. 31, 2025, Angel One’s equity share capital stood at Rs 908.55 million, reflecting a stable balance sheet position. The company’s shares have gained more than 600% over the past five years, though they are up about 3% over the past year amid market volatility, as reported in Angel One Q3 updates.
Visit more of our news! Business Viewpoint Magazine
