Angel One Reports Mixed Q2 Results, Plans GIFT City Expansion

Angel One reported a mixed financial performance for Q2, with net profit at ₹2,117 crore (down 49.9% YoY but up 85% QoQ) and revenue at ₹9,410 crore, down 37.9% from last year but up 5.6% sequentially. EBITDA fell to ₹3,246 crore (margin of 34.57%, from 44.35% earlier). Despite lower profitability, operational metrics showed strong growth: Client base reached 34.1 million (+24% YoY) Gross client acquisition: 1.7 million (+41.9% YoY) Demat market share rose to 16.5% NSE active clients: 6.9 million (+6.4% YoY) Orders processed: 360 million (+26.3% YoY) Average daily turnover surged 58.4% to ₹1.4 trillion The company also announced plans to set up a new branch in GIFT City, Gujarat, signaling its intent to tap into India’s emerging international financial hub. Management highlighted gains in retail equity turnover share (up 71 bps to 20.5%) and emphasized AI-driven innovation and annuity revenue growth. While margins were under pressure, the robust client expansion and rising transaction volumes underscore resilience in its core brokerage platform. The GIFT City move positions Angel One for future institutional and global opportunities.