New Delhi: Leading stock exchange BSE on Tuesday reported a 16 percent decline in net profit to Rs 51.6 crore in three months ended December 2022. In comparison, the exchange had posted a net profit of Rs 61.3 crore in the year-ago period, BSE said in a statement.
However, the bourse’s revenue from operations grew 6 percent to Rs 204 crore in the quarter under review from Rs 192.8 crore in the October-December quarter of the preceding fiscal 2021-22. (Also Read: Swiggy Teases Newlyweds Kiara Advani, Sidharth Malhotra With Adorable Post, Take a Look)
“Overall, BSE reported a sustained third quarter result amidst a difficult market environment. 2022 was a period of transition for the BSE, and as we embark on a new journey in the new Financial Year, I believe that a balanced business model will enable us to grow much higher,” Sundararaman Ramamurthy, MD and CEO of BSE, said. (Also Read: 18-year-old Canadian Girl Buys Lottery Ticket on her Birthday, Wins Rs 290 Crore, Purchases Plane)
In addition, the board of BSE has approved the divestment of a 2.5 percent stake of BSE in Central Depositary Services Ltd (CDSL) towards meeting regulatory norms.
The exchange’s mutual distribution platform, BSE StAR MF, saw the total number of transactions surge by 37 percent to reach 6.86 crores during the quarter that ended December 31, 2022, from 5.02 crore in the same period last year.