Bombay Stock Exchange posted fiscal first quarter profit at Rs 440.09 crore, registering a jump of 999.7 per cent in comparison to Rs 40.02 crore during the corresponding quarter of last year. It reported revenue from operations at Rs 215.62 crore, up 15.4 per cent as against Rs 186.84 crore during the first quarter of FY23. BSE, during the quarter in review, clocked a total income of Rs 271.18 crore, up 37.2 per cent as against Rs 197.70 crore during Q1FY23. However, it posted a total expenditure of Rs 173.44 crore for the quarter ended June 2023, up 11.8 per cent from Rs 155.14 crore during the year-ago quarter.
During the first quarter of FY24, BSE had divested 5 per cent stake in its associate company Central Depository Services (India) Limited to meet the requirement of SEBI directives. The profit on divestment of Rs 406.62 crore has been shown as an exceptional item, giving a boost to the bottom line. Excluding exceptional items, net profit grew 82 per cent.
Average daily turnover in the cash equity segment was at Rs 4024 crore. However, the transaction income was up at Rs 39 crore during the quarter ended June 2023. Revenue from Star MF platform was up 51 per cent to Rs 24 crore, while revenue from services to corporates was down on-year basis at Rs 11 crore.
BSE also announced that it has initiated the process for voluntary winding up of BSE CSR Integrated Foundation (BCIF). The voluntary winding up process shall be initiated after completion of the ongoing projects undertaken by BCIF.
The exchange also re-designated Nayan Mehta as Chief – Special Projects, with effect from September 11, 2023. Pursuant to this, Deepak Goel has been appointed as Chief Financial Officer, with effect from September 11, 2023.
Earlier in a meeting on July 6, 2023, the board of directors had approved the share buyback of 45.9 lakh equity shares, representing 3.39 per cent of the total number of equity shares at Rs 816 apiece, for a total consideration of Rs 374 crore.
“Overall, we have made good progress in maximizing the potential of our people, technology, and products – these are critical enablers for the strategy we launched in January 2023. We remain committed to creating higher, more sustainable contributions for all stakeholders and driving revenue growth and diversification across all our business areas. We shall continue to work hard to deliver on our mission of Vibrant BSE 2025,” said Sundararaman Ramamurthy, MD & CEO, BSE.