Angel One has received an in-principle approval from Securities and Exchange Board of India (SEBI) for sponsoring a Mutual Fund. Accordingly, the Company would be setting up an Asset Management Company and the Trustee Company, in accordance with applicable SEBI Regulations and other applicable laws.
Earlier, on the consolidated basis, the company had reported rise of 38.55% in its net profit at Rs 227.98 crore for Q3FY23 as compared to Rs 164.55 crore for the same quarter in the previous year. Total income of the company increased by 25.51% to Rs 759.66 crore for the quarter under review as compared to Rs 605.25 crore for the same quarter in the previous year.
Angel One is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares (through one of its Subsidiaries, AFPL) and financial products distribution to its clients under the brand ‘Angel Broking’.
