5 Paisa Capital posts net profit of Rs 3.06 crore in Q3

5 Paisa Capital has reported a net profit of Rs 3.06 crore in the third quarter ended December 31. In comparison, the company had posted a net loss of  Rs 2.18 crore in the year-ago period.

The company’s total income rose to 85 per cent to Rs 49.61 crore for the quarter under review from Rs 26.88 crore in three months ended December 31, 2019. The company has on-board more than 1.9 lakh new clients during the quarter taking the total number of registered customers to 11.45 lakh.

"In the recent past, we have seen a number of new and existing players foraying the discount broking space. We have re-oriented our strategy, focusing on solutions for the customer rather than product vending. The customer looks for solutions backed by research and support to generate superior returns for his or her risk appetite," 5paisa Capital CEO Prakarsh Gagdani said.

According to Gagdani, the regulatory changes of upfront margin reporting impacted trading in the month of October and normalcy returned in the later months of the quarter.