BSE posts 4-fold jump in Q2 net profit

Mumbai, Nov 11 BSE, the country’s leading stock exchange, has posted a four-fold jump in net profit at Rs 118.4 crore for the July-September quarter of the current financial year.

The exchange had made anet profit of Rs 29.4 crore in the same quarter last year.

The stock exchange’s revenue increased by 53 per cent to a record Rs 367 crore in the second quarter this year from Rs 240 crore in the same period of the previous financial year, according to a BSE statement.

The exchange's average daily turnover in the equity segment increased to Rs 5,922 crore in the second quarter from Rs 4,740 crore in the same three-month period last year.

BSE’s board of directors have approved a fund infusion of Rs 22.36 crore in India International Exchange (IFSC) Ltd (India INX) and Rs 33.88 crore in India International Exchange (IFSC) Ltd (India ICC) towards purchase of equity shares through subscription of rights issue.

"We shall continue to invest in the development of human resources, new products, technology infrastructure, etc, and thus pursue long-term growth for shareholders and deliver on our mission of Vibrant BSE 2025," said BSE managing director and CEO Sundararaman Ramamurthy.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor