BSE Q1 Results: Net profit grows multiple times to Rs 440 crore

10 Aug 2023 , 10:46 AM

The BSE revealed on Wednesday that its consolidated net profit for the three months ending in June 2023 increased by more than 1000% to Rs 440 crore. In the same quarter the previous year, it was Rs 40 crore.

When compared to the same period last year, the revenue from operations for the months of April through June increased by 15% to Rs 216 crore.

A remarkable item was the cause of the dramatic increase in net profit. To comply with Sebi regulations in this regard, the company sold its 5% investment in associate company CDSL during the first quarter. The profit from the divestiture was Rs 406.6 crore.

In comparison to the same quarter last year, the company reported an EBITDA of Rs 70 crore in the June quarter, an increase of 41% year over year.

In the meantime, margins increased to 32.5% in the reporting quarter from 26.6% the year before.

Investment revenue increased significantly during the first quarter, rising to Rs 44 crore from just Rs 6.01 crore in the corresponding quarter of the previous year.

The Board has given the go-ahead to begin the voluntary winding up of the BSE CSR Integrated Foundation (BCIF), a wholly-owned subsidiary of BSE that was founded in 2016 and used to carry out CSR initiatives on behalf of BSE and its subsidiaries.

Once the BCIF’s active projects are finished, the voluntary winding-up procedure will begin. CSR projects would still be carried out directly by BSE.

With effect from September 11, 2023, the Board has also authorized Nayan Mehta’s reclassification from Chief Financial Officer to Chief – Special Projects.

Once the BCIF’s active projects are finished, the voluntary winding-up procedure will begin. CSR projects would still be carried out directly by BSE.

With effect from September 11, 2023, the Board has also authorized Nayan Mehta’s reclassification from Chief Financial Officer to Chief – Special Projects.

According to Sebi regulations, he will continue to be a key management employee. Deepak Goel has been appointed as the exchange’s Chief Financial Officer as of September 11 as a result of this change.

The company’s shares on the NSE closed 4.32% higher on Wednesday at Rs 920.70.

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