ICICI securities Q1 PAT dips 1%

NEW DELHI: Brokerage house ICICI Securities on Friday reported a one per cent decline in profit after tax (PAT) at Rs 271 crore for three months ended June 2023. In comparison, the company reported a PAT of Rs 273.6 crore in the year-ago period, ICICI Securities said in a regulatory filing. The decline in the profit could be attributed to higher expenses, as the broking firm's total expenses shot up by 33 per cent to Rs 570 crore in the quarter under review. However, the company's total revenues rose by 18 per cent to Rs 934 crore in the first quarter under review, from Rs 795 crore in the April-June quarter of financial year 2022-23. .