Home Market BSE group Q1 net inches up 4% at Rs 51.5 crore

BSE group Q1 net inches up 4% at Rs 51.5 crore


MUMBAI: The oldest Asian bourse, BSE, today reported a marginal 4 per cent rise in consolidated net profit at Rs 51.50 crore for the quarter to June, while its revenue rose a tad lower at 3 per cent to Rs 166.41 crore.

Consolidated revenue from operations rose 6 per cent to Rs 116.99 crore for the quarter, the exchange said in a statement.

Currency derivative segment average daily turnover increased by 73 per cent to Rs 31,418 crore, while monthly orders processed in mutual funds increased by 152 per cent to 70 lakh from 28 lakh.

Average daily turnover at the India International Exchange, which is a wholly-owned subsidiary of the exchange at the Gift City in Gandhinagar, soared to USD 447 million from USD 37 million.

The exchange successfully completed buyback on July 9, and the issued equity share capital now stands reduced by 3.70 per cent to Rs 10.51 crore.

During the quarter, the BSE entered into an agreement with the Bombay Metal Exchange to help the growth and systematic development of commodity derivatives markets in the non-ferrous metals complex.

Commenting on financial performance, Ashishkumar Chauhan, managing director and chief executive, BSE, said, "Our success in mutual funds, currency derivatives, SME, India INX platforms has set the base for us to focus on growth of the next-gen products that cater to an emerging India."

Established in 1875, the BSE is the world's fastest stock exchange with a speed of six microseconds and also the first listed equity bourse in the country.

The BSE platform facilitates trading in equities, debt, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.

BSE scrips listed on the rival NSE rallied 2.5 per cent to close at Rs 823.30, on a day its own benchmark, Sensex, rallied 1.05 per cent to close at new peak. The broader Nifty index rallied 1.03 per cent to close the trade at a new life-time high.

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