NBFC firm Choice International announced Q2FY23 results: Consolidated H1 FY23: Revenue growth of 25.9% YoY to Rs.1,572 million EBITDA of Rs. 350 million; Margin of 22.24% Net Profit of Rs.159 million; Margin of 10.12% Revenue contribution of 66.98% Broking and Distribution, 20.78% Advisory and 12.24% NBFC Consolidated Q2 FY23: Revenue growth of 24% YoY to Rs. 785 million EBITDA of Rs. 174 million; Margin of 22.1% Net Profit of Rs. 82 million; Margin of 10.5% Revenue contribution of 72% Broking and Distribution, 15% Advisory and 13% NBFC Mr. Kamal Poddar, Managing Director said: "We are delighted to announce Q2 FY23 Revenues of Rs.785 million, which represents a growth of 24% compared to same quarter last year. Our consolidated EBITDA and PAT for Q2 FY23 was Rs.174 million and Rs.82 million respectively. The Broking Services’ Revenue and PAT grew by 17% and 40% on QoQ basis respectively. This robust revenue growth trajectory is a reflection of Choice’s ability to consistently innovate digitally in line with our growing customer base requirements. Furthermore, we have a successful track record of developing financial products to service rural and semi-urban populations and bridging the financial gap. Our technology focused approach not only allows us to deliver consistent revenue growth but also enhances customer retention and lower customer acquisition cost. This quarter we have onboarded 2,500+ Choice Business Associates which takes our total headcount to 28K associates. During the quarter we continued to gain significant market share across Broking and Distribution business. In our Stock Broking business, Average Daily Turnover (ADTO) has grown by 10% QoQ to Rs 8.72 billion in Q2FY23. The total number of our Demat accounts increased by 31% in the last six months with an increase in number of active clients by 146% in the last one year. Choice is ranked 15th by National Stock Exchange’s active (UCC) list. Our financial platforms coupled with our distribution network have enabled us to become a family of over 669K clients and growing. In our Mutual Fund Distribution business, customer AUM increased by 124% to Rs.3,514 million compared to the same quarter last year. We generated insurance premium of Rs.121 million, a growth of 124% on YoY basis. During the quarter, we partnered with Government of Maharashtra under the Gopinath Munde Shetakari Accident Insurance Scheme to settle insurance claims. We are proud to announce that under the scheme, we will be serving over 3 crore farmers in Maharashtra, which is in line with our vision of meeting the requirements of the underserved population of India. Overall, Choice’s businesses are supported by the favourable Indian demography, rapid growth of the Indian economy, eased monetary and fiscal policies and other favourable policies by the Indian government. These factors will further generate multiple opportunities for us going forward and creating shareholder value". Result PDF