Total revenue from operations declined marginally to Rs 884.78 crore in Q4 FY23 as against Rs 891.67 crore posted in the same quarter last year, mainly due to decline in retail cash ADTO & muted capital markets.

Consolidated profit before tax shed 22.4% YoY to Rs 353.19 crore in Q4 FY23. Interest income jumped 35.49% to Rs 287.12 crore in Q4 FY23 from Rs 211.9 crore in Q4 FY22.

Brokerage income slipped to Rs 310.28 crore in Q4 FY23 from Rs 372.89 crore for Q4 FY22. This was primarily due to decrease in retail equity volumes which was partially compensated by increase in retail derivative volumes

The Retail Equities and Allied Business which includes lending towards MTF (margin trade funding) & ESOP (employee stock option plans), Prime & NEO subscription fees, reported revenues at Rs 492.2 crore, down 6% YoY. This was due to decline in cash volumes were offset by growth in retail allied and derivative revenue.

The Distribution Business reported revenues of Rs 192.9 crore in Q4 FY23, up 14% YoY on the back of growth in Mutual Fund and Life Insurance products.

Institutional Equities revenue during the quarter was Rs 49.3 crore, down by 21% YoY, primarily due decline in Cash ADTOs and muted capital markets.

The Issuer Services and Advisory business revenue stood at Rs 12.7 crore in Q4 FY23, down 80% YoY due to reduction in number of capital market deals. The company has a strong IPO pipeline of amount over Rs 50,300 crore across 29 deals, with 17 deals where the amount is yet to be decided.

ICICI Sec's Private Wealth Management (PWM) business reported Rs 255 crore of revenue in Q4 FY23, up by 1% year on year.

The company added around 3.7 lakh clients during the quarter under review taking its overall customer base past 90 lakh mark. As on 31 March 2023, the company's total client assets on ICICIdirect.com stood at Rs 5.9 lakh crore, which was up by 4% YoY.

On a full year basis, the brokerage house's consolidated net profit de-grew by 19.2% to Rs 1,117.63 crore on a 0.6% fall in revenue from operations to Rs 3,415.75 crore in FY23 over FY22.

Vijay Chandok, Managing Director and CEO of ICICI Securities said, “With continued diversification taking root in the company's business model, we are becoming more of a structural play on the India opportunity. As we look back and look ahead, we see that we are on track to achieve our stated aspiration. We strongly believe that the medium to long term story for the industry remains intact and we are well placed strategically to harness this opportunity by making relevant investments in key focus areas viz. F&O, distribution of loan and insurance products, and wealth management.”

Meanwhile, the company's board recommended a final dividend of Rs 9.25 per equity share which shall be subject to their approval at the ensuing annual general meeting.

ICICI Securities (I-Sec) is a subsidiary of ICICI Bank. Through its four lines of businesses -- broking, distribution of financial products, wealth management and investment banking-- I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.