ICICI Securities Q3 profit slips 34% to Rs 101 crore

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ICICI Securities, investment services arm of ICICI Group, Monday reported a 34.3 per cent decline in consolidated profit to Rs 101.1 crore for the third quarter ended December 31.

In comparison, the company’s profit stood at Rs 153.9 crore in the October-December quarter of 2017-18, ICICI Securities said in a regulatory filing to the stock exchanges.

The company’s total income also declined to Rs 404.7 crore, compared with Rs 493.8 crore in the third quarter of the previous fiscal.

During the current financial year, there have been several short-term headwinds such as volatile market, NBFC liquidity crisis, frozen state of primary market, and significant regulatory changes, which impacted the overall business sentiment and performance, it said.

Source: Economic Times