Angel One Ltd on Thursday reported consolidated revenue of Rs 13,348.96 million for the December quarter (Q3FY26), up 5.76 per cent year-on-year, while net profit declined 4.55 per cent to Rs 2,686.64 million, compared with Rs 2,814.66 million in the year-ago period. The broking services firm also announced an interim dividend of Rs 23 per share and approved a 10-for-1 stock split at its board meeting held on January 15, 2026.
Revenue rose quarter-on-quarter to Rs 12,017.58 million in Q3FY26. But elevated costs continued to impact profitability on a year-on-year basis.
For the quarter ended December 31, 2025, Angel One posted total revenue of Rs 36,771.85 million, while net profit came in at Rs 5,948.62 million. This compares with revenue of Rs 41,823.66 million and net profit of Rs 9,975.60 million recorded in the corresponding period last year, indicating a moderation in overall performance.
Interest income provided a cushion to the topline, increasing to Rs 4,408.62 million in Q3FY26 from Rs 3,493.86 million a year earlier. However, income from fees and commissions slipped to Rs 8,895.84 million from Rs 9,052.64 million.
Lower fair value gains
Net gains from fair value changes stood at Rs 44.50 million during the quarter, down from Rs 75.56 million in Q3FY25.
Costs rise on employee expenses and branding spends
Total expenses for the quarter increased to Rs 9,641.54 million, compared with Rs 8,764.76 million in the year-ago period. Employee benefit expenses rose to Rs 2,743.15 million from Rs 2,373.22 million, partly due to an additional gratuity provision of Rs 42.94 million following the notification of new labour codes.
Other expenses during the nine months included Indian Premier League sponsorship costs of Rs 1,151.90 million, the company said.
Interim dividend and stock split announced
Alongside the quarterly results, the board declared the first interim dividend for FY26 at Rs 23 per equity share of face value Rs 10, with January 21, 2026, fixed as the record date. The dividend will be paid on or before February 13, 2026.
The board also approved a stock split, under which each equity share of face value Rs 10 will be subdivided into 10 equity shares of face value Re 1 each. Post split, the number of outstanding equity shares will increase from 90.86 million to 908.55 million, while the total paid-up capital will remain unchanged.
Business transfer plan withdrawn
Angel One said the board has withdrawn its earlier proposal to transfer its securities broking, depository participant, mutual fund distribution and research analyst businesses to wholly owned subsidiary Angel Securities Ltd through a slump sale, citing a review of internal developments and changes in the external environment.
Associate company and balance sheet position
During the quarter, the company also set up Angel One LivWell Life Insurance Ltd as an associate company, with a 26 per cent equity stake, in partnership with LivWell Holding Company Pte Ltd.
As of December 31, 2025, Angel One’s equity share capital stood at Rs 908.55 million, reflecting a stable balance sheet.
Stock performance
Angel One shares have delivered strong long-term gains, rising over 624 per cent in the past five years. Over the last one year, the stock is up around 3.2 per cent, amid periods of market volatility.
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