AB Money gains 11 per cent on good Q1 numbers

Aditya Birla Money Limited (ABML) was buzzing on the bourses following the company's results announcement on Wednesday. The company's net profits in Q1FY20 were up by 73.6 per cent compared to Q1FY19.

In the June quarter ABML reported total income of Rs. 44.7 crore compared to Rs. 42.1 crore in June 2018. The company's net profit for Q1 was at Rs. 3.49 crore compared to Rs. 2.01 crore, an increase of 73.6 per cent YoY. On segmental basis, in Q1 the Broking segment earned revenues of Rs. 32.30 crore compared to Rs. 35.1 crore in June 2018 and Trading in Securities segment registered revenues of Rs. 10.02 crore compared to Rs. 4.09 crore in June 2018.

Aditya Birla Money Limited is a subsidiary of Aditya Birla Capital Limited. The company offers equity and derivatives trading and holds Portfolio Management Services (PMS) license from SEBI and also offers portfolio management services.

Reacting to the results, the stock of Aditya Birla Money was quoting Rs. 46.85 per share, up by Rs. 1.90 or 4.23 per cent at 14:35 hours on BSE.