BSE to divest 2

BSE to divest 2.5% stake in CDSL; net profit down 18%

The BSE on Tuesday reported an 18% decline in its net profit for the December quarter to Rs 47.8 crore, compared with Rs 58.5 crore for the corresponding period of the previous financial year.

A press release issued by the bourse said that the board has given its approval to the divestment of the BSE’s 2.5% stake in Central Depositary Services (CDSL) for compliance with regulatory norms.

Total revenue rose 12%, from Rs 218.6 crore to Rs 245 crore, while operational revenues rose 6% to Rs 204 crore from Rs 192.8 crore last year. Consolidated EBITDA for the quarter under review fell 4% to Rs 80 crore from Rs 83.5 crore.

The BSE StAR MF platform recorded its highest-ever monthly transactions of 24.4 million in December 2022, up 18% from the same period last year. During the quarter, the platform enabled issuers to raise Rs 3.9 trillion via equity bonds, commercial papers, municipal bonds, and InvITs, the release said.

The average daily turnover in the equity segment decreased by 11% to Rs 4,234 crore, while that in the equity derivatives segment fell 13% to Rs 1.97 trillion. For the currency derivatives segment, the average daily turnover declined by 18% to Rs 26,246 crore.

The India INX at GIFT City reported an average daily trading turnover of $18 billion and a market share of 95%. The exchange has about $70 billion in medium-term notes established and about $50 billion in bond listings till date. Total cumulative trading turnover at Indian INX GA stood at at $7.37 billion for the quarter.