Angel One Profit Drops for Fourth Consecutive Quarter Following Regulatory Curbs on Derivatives
Angel One reported a 4.5 percent profit decline for the third quarter ending December 31 2025. This marks a year of quarterly losses due to trading curbs.
Insights:
Angel One Ltd reported a 4.5 percent decline in consolidated profit for the third quarter ended December 31, 2025, marking its fourth consecutive quarterly decline. The nearly 30-year-old Mumbai-based brokerage posted a profit of 2.69 billion rupees, equivalent to approximately $29.78 million, as it grapples with a changing regulatory environment in India 
IN. This sustained downturn is directly attributed to regulatory curbs on equity derivatives implemented by the Securities and Exchange Board of India (SEBI) in late 2024.
IN. This sustained downturn is directly attributed to regulatory curbs on equity derivatives implemented by the Securities and Exchange Board of India (SEBI) in late 2024.The SEBI intervention, which reduced the number of weekly options contracts and increased the minimum trading amount, was designed to dampen speculative trading and has significantly reduced retail investor participation. Because Angel One Ltdderives more than 75 percent of its revenue from derivatives trading, these structural shifts have exerted continuous pressure on its financial performance. The impact is evident in the company's volume data, with the total number of orders falling about 10 percent year-on-year during the December quarter.
