New Delhi, April 17 -- Angel One's shares jumped over 10% on Friday to Rs.322 after its March-quarter (Q4FY26) results offered relief following a difficult stretch. Net revenue from operations rose 37% year-on-year to Rs.1,014 crore, while operating margin expanded to 42% from 32%, aided by operating leverage.

The rebound comes after a prolonged adjustment to tighter regulations that dragged revenues lower in the nine months to December. Even with a strong fourth quarter, full-year FY26 revenue declined 3% to Rs.3,553 crore.

At the heart of the volatility is a slowdown in Angel One's key growth engine-F&O broking. Segment revenue rebounded to Rs.686 crore in Q4FY26 from Rs.488 crore a year earlier, but remains well below the Rs.784 cror...