Indian brokerage Angel One on Wednesday posted a 61% fall in first-quarter profit, as tighter rules for equity derivatives trading in India weighed on retail activity, a key driver for the brokerage’s earnings.
The company’s consolidated profit fell to 1.14 billion rupees ($13.3 million) for the three months ended June 30, compared with 2.93 billion rupees a year earlier.
($1 = 86.0340 Indian rupees)