Higher CIR adversely impacts profitability

Company

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.