Choice International Q1 profit rises 50% to Rs 32 crore

New Delhi: Financial services firm Choice International on Friday reported a 50 per cent growth in profit after tax to Rs 32 crore for three months ended June 2024.

In comparison, the company posted a Profit After Tax (PAT) of Rs 21.3 crore in the year-ago period, Choice International said in a statement.

The company's total revenue rose 48 per cent year-on-year to Rs 205.9 crore in the April-June quarter from Rs 139.3 crore in the year-ago period (FY24).

"Q1FY25, being focused on elections, led to a stock market rally, with Nifty and Sensex reaching all-time highs and providing excellent returns to investors. Choice has also ended the quarter on a higher note, clocking a revenue growth of 48 per cent, achieving Q1FY25 revenue of Rs 206 crore.

"Our EBITDA and PAT for Q1FY25 stood at Rs 58 crore and Rs 32 crore, respectively, further solidifying our success," the company's managing director Kamal Poddar said.

Choice International said its broking & distribution business contributed 67 per cent of total revenues, followed by advisory business (21 per cent) and NBFC (12 per cent).