Choice International (531358) Q1 24/25 earnings summary

Executive summary

• Consolidated Q1 FY25 revenue from operations was ₹20,064.49 lakh and net profit was ₹3,939.59 lakh; broking services contributed the largest segment revenue.

• Total income rose 47.88% YoY to ₹20,593.99 lakh; reported PAT increased 50.53% to ₹3,201 lakh.

Financial highlights

• Consolidated revenue from operations rose to ₹20,064.49 lakh from ₹13,750.22 lakh YoY; total income increased to ₹20,593.99 lakh from ₹13,925.82 lakh.

• EBITDA rose 54.90% YoY to ₹5,824 lakh, with margin improving to 28.28% from 27.00%; EBIT increased 56.58% to ₹5,656 lakh.

• Consolidated PBT was ₹4,339.97 lakh versus ₹2,939.14 lakh YoY; consolidated net profit was ₹3,939.59 lakh versus ₹2,126.54 lakh.

• QoQ, revenue from operations declined 6.48%, EBITDA fell 16.03%, and PAT decreased 18.75%.

• Standalone revenue was ₹700.28 lakh versus ₹354.76 lakh YoY; standalone PAT was ₹299.59 lakh versus ₹54.44 lakh.

Segment performance

• Broking services revenue was ₹12,960.34 lakh and PBT ₹3,448.93 lakh; demat accounts reached 890K, up 23% YoY, and equity retail ADTO market share was 1.18%.

• NBFC services revenue was ₹2,513.69 lakh and PBT was a loss of ₹102.65 lakh; the loan book was ₹4.53 Bn, including ₹2.86 Bn retail AUM, with all retail lending directed to priority-sector lending.

• Insurance premium rose 39% YoY to ₹470 Mn; policies sold increased 236% to 26,916, and 90% of premium came from new business.

• Advisory revenue was ₹4,327.79 lakh and PBT ₹442.76 lakh; the ₹5.45 Bn order book covered projects in 10+ states.

• Wealth products AUM reached ₹8,782 Mn, up 111% YoY; SIP book increased 48% YoY.