BSE, India's leading stock exchange, has reported a significant surge in net profit, posting a four-fold increase at Rs 118.4 crore for the July-September quarter of the current financial year. In the same quarter last year, the exchange had a net profit of Rs 29.4 crore.
The stock exchange's revenue also recorded a robust growth of 53%, reaching a record Rs 367 crore in the second quarter of this year, compared to Rs 240 crore in the corresponding period of the previous financial year, as per a statement from BSE.
The average daily turnover in the equity segment at BSE increased to Rs 5,922 crore in the second quarter, up from Rs 4,740 crore in the same three-month period last year.
Additionally, BSE's board of directors has approved a fund infusion of Rs 22.36 crore in India International Exchange (IFSC) Ltd (India INX) and Rs 33.88 crore in India International Exchange (IFSC) Ltd (India ICC) for the purchase of equity shares through subscription of rights issue.
"We shall continue to invest in the development of human resources, new products, technology infrastructure, etc, and thus pursue long-term growth for shareholders and deliver on our mission of Vibrant BSE 2025," said BSE managing director and CEO Sundararaman Ramamurthy.
(With Agency Inputs)
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