Angel One share price

Angel One Stock Tumbles 12% Post Q3 Report: What Investors Need to Know

Angel One shares plunged after a mixed Q3 performance, causing a stir in the market. Details and implications inside!

Angel One shares took a significant hit, plummeting 12% to a two-week low following the release of the company's Q3FY24 results. The stock value declined with a 14.50% quarter-on-quarter decrease in net profit, despite a 14% year-on-year improvement. This downturn comes on the heels of Angel One announcing a third interim dividend for FY24 at a rate of Rs 12.70 per share, along with plans to raise funds through issuance.

The market saw Angel One shares nosediving after the mixed Q3 results, marking one of the worst days for the company with the biggest intraday loss in over 20 months. The sharp margin contraction in Q3, with the operating margin dropping to 37.60% from 43.3% in the previous year, rattled investors and contributed to the steep decline in share value.

Despite the Q3 challenges, Angel One reported a 14% jump in profit to ₹260 crore and approved the third interim dividend for FY24. However, the sequential decline in profit and operations expenses growth led to the 13% slump in share prices. Investors are now eyeing the future trajectory of the company amid these financial fluctuations.

Angel One's revenue from operations in the December quarter surged by 41.86% to ₹1059 crore, but the weak Q3 performance still shook the market. On the NSE, shares of Jio Financial Services Ltd also experienced a 6.48% decline, signaling potential broader market implications.