 "BSE Q4 results: Net profit at Rs 107 crore, announces dividend of Rs 15")
Stock exchange BSE on Wednesday reported a net profit of Rs 107 crore in the quarter ending March 2024, compared to Rs 91.2 crore during the same quarter last year. Net profit remained flat on a sequential basis.
On a yearly basis, the exchange’s net has jumped over fourfold to Rs 778.4 crore in FY24 from Rs 220.7 crore in FY23 owing to its 5 per cent stake sale in Central Depository Services (CDSL). The company made a profit of Rs 406.62 crore on the divestment.
The company’s net was impacted due to an outgo of Rs 169.77 crore to the Securities and Exchange Board of India (Sebi) as regulatory fee on notional value of options contracts.Exchange's MD & CEO Sundararaman Ramamurthy said that they will request the market regulator to review the same for a relief.
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BSE’s revenue from operations surged to Rs 488.37 crore in the March quarter against Rs 227 crore a year ago.
The exchange has also announced a dividend of Rs 15 per share, upon shareholder approval. Further, the board of the bourse approved disinvestment of its wholly-owned subsidiary BSE Institute.
Further, the exchange is planning an overhaul of its mutual fund platform StarMF by launching StarMF 2.0 in the next quarter with additional services.
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The board of the company also approved extension of the tenure of Kamala Kantharaj as chief regulatory officer for two years, up to July 2027.