09 May 2024
Share India Securities has recently released its financial results for Q4 FY24. The company's total income has seen a significant (Y-o-Y) growth of 36.2%, rising from Rs. 1088 Cr to Rs. 1483 Cr. Although there has been a 21.8% decline in commissions, there has been a 55.3% increase in interest income. The major source of the company's income is from gain on fair value changes which has seen a jump of 57.5%. However, on the expense side, the finance cost has seen a 56.3% rise, and employee benefit expenses more than doubled from Rs. 149 Cr to Rs. 330 Cr. Despite the increased profit, the net margin saw a decline of 1.5%. Nevertheless, the bottom line of the company has seen an increment of 28.7% from Rs. 331 Cr to Rs. 426 Cr.
The company's total income increased by 24.3% (Q-o-Q) from Rs. 375 Cr to Rs. 467 Cr. This was due to a 58.4% increase in commission income and a 19.5% increase in gain due to changes in fair value. However, the commission expense more than doubled, and the operating and employee expenses increased by 37.9% and 36.7%, respectively. As a result, the company's bottom line only grew by 0.5% (Q-o-Q) from Rs. 115 Cr to Rs. 116 Cr. This was due to increased expenses, leading to a decline in margins.
