Higher CIR adversely impacts profitability

17 Jan 2024
5 Min read 
  • Angel One reported a 17% miss on PAT estimates and saw a growth of 14% YoY.
  •  Net revenue grew 49% YoY, in line with estimates.
  •  Higher operating costs led to a rise in the cost-to-income ratio.
  •  The company plans to focus on gaining market share in the cash segment.
  •  Client acquisitions and investments into new businesses are expected to drive growth.
  •  Earnings estimates have been revised downwards to factor in higher costs.
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