5paisa Capital Ltd Q4 FY25 Results

Q4FY25 marked the first full quarter following the complete implementation of SEBI’s derivatives reforms. These regulatory changes, combined with a sharp correction in market indices driven by global uncertainties, significantly impacted exchange turnover, retail participation across the industry, and overall income for the broking industry. We believe this is a temporary phase that will ultimately strengthen the foundation for long- term, sustainable growth. As markets adjust to the new environment, we expect business activity to normalize over the coming quarters, enabling a return to historical income and margin levels. We remain focused on enhancing customer experience through the continuous rollout of new product features and technology platform upgrades. We are confident that these initiatives will help us retain our existing customers, attract high-quality new users with stronger lifetime value (LTV), and deliver a superior overall experience.