BSE Q1 Net Profit Falls 40% To ₹265 Cr, Revenue Doubles

Bombay Stock Exchange announced its June quarter results on August 7 after the market close.

What Happened: BSE’s consolidated net profit fell 40.12% from the previous year to ₹265.05 crore in the June quarter. Its revenue from operations more than doubled from the previous year to ₹607.7 crore in the quarter.

In the previous year, BSE had reported a net profit of ₹442.6 crore and revenue of ₹215.62 crore. Profit was boosted by an exceptional item of ₹406.62 crore which the company gained after divesting a 5% stake in Central Depository Services.

EBITDA in the June quarter rose to ₹350.4 crore compared to ₹125.7 crore in the previous year’s quarter.

The stock exchange’s expenses also doubled to ₹347.70 crore from ₹173.44 crore in the previous year. This was caused by an increase in clearing and settlement expenses which jumped to ₹80.55 crore from ₹4.93 crore in the previous year and SEBI regulatory fees which increased to ₹82.41 crore from ₹5.59 crore in the previous year.

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Transaction charges increased to ₹366.3 crore in the quarter from ₹66 crore in the previous year. Services to corporate income grew to ₹95.2 crore against ₹70.8 crore in the previous year.

“During the quarter, the holding company acquired the control of Asia Index Private Limited (“AIPL”) by acquiring 50% stake from the Joint Venture partner. Consequently, AIPL has become a wholly owned subsidiary w.e.f June 1, 2024.”, the company said in the regulatory filing.

BSE is India’s oldest stock exchange. The National Stock Exchange is India’s other major stock exchange.

Price Action: BSE shares rose 3.58% to ₹2,400.40 on Wednesday’s session ahead of its results announcement.

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