CDSL‘s share price was surging on Monday morning after the company posted its earnings for the quarter ended September over the weekend. The company’s earnings call is scheduled for later today.
What Happened: CDSL reported a consolidated net profit of ₹162.02 crore for the quarter, marking a 48% increase from ₹108.85 crore in the same period last year. Revenue from operations reached ₹322.26 crore, a 55% rise from ₹205 crore in the corresponding quarter of the previous year.
The company's performance surpassed Dalal Street estimates, with analysts expecting revenue of ₹271 crore and net profit of ₹132 crore.
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The company’s EBITDA stood at ₹200 crore, reflecting a 54.5% year-on-year increase from ₹129 crore in the same quarter of the previous year. However, the EBITDA margin saw a slight decline of 40 basis points, settling at 60% compared to 62.4% in the corresponding quarter of the previous year.
CDSL also reached a milestone, becoming the first depository to surpass 13.5 crore demat accounts as of September 30. During the July-September period, 1.18 crore new demat accounts were opened.
CDSL's market share in demat accounts increased to 78% from 74% in September 2023, while NSDL's market share declined to 22% from 26% in the same period last year.
Price Action: CDSL’s share price was up 3.17% to trade at ₹1,464.05 as the markets opened on Monday. The stock went up around 5% to hit an intraday high of ₹1,489.75.
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