A whopping80% of its nearly 1 million new customers are under-30: Angel Broking

The 25-year Angel Broking reported 230 per cent surge in net income for the March 2021 quarter at Rs 102 crore over Rs 31 crore in Q4 of FY20. For the full year, net profit jumped 260.5 per cent to Rs 296.9 crore from Rs 82.35 crore in FY20, on an income of Rs 1,299 crore, which was up 72.1 per cent from FY20.

Angel Broking, which crossed the 5-million customer base mark in May onboarding a record 0.43 million new demat accounts during the month, has said that over 80 per cent of its new customers are under 30 years of age, and 90 per cent of them are from small towns.

''As much as 80 per cent of our new clients are under 30 years and of them, a whopping 90 per cent are from small towns. This shows how we made in-roads to tier-2 and -3 towns from where millennials and Gen-Z individuals are joining our platform,'' Chief growth officer Prabhakar Tiwari says

This is also supported by BSE numbers. Of the 70 million BSE users, as much as 38 per cent are in the 30-40 age bracket, followed by 24 per cent in 20-30, and 13 per cent in the 40-50 age brackets.

Our growth was fuelled by tech-savvy young users, with an age profile of 20-40, who contributed 0.82 million of the 10 million user additions from 60 million to 70 million, BSE Managing Director and Chief Executive Ashishkumar Chauhan has said.

On the rising interest in the market from small towns, Tiwari said realty and gold are not really doing well now as in the past and also the flurry of successful IPOs has been wooing new investors.