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BSE Q1 net profit drops 21.4% to Rs 32.48 cr

Last Updated 03 August 2020, 15:30 IST

Leading stock exchange BSE on Monday reported a 21.4 per cent decline in net profit at Rs 32.48 crore in the quarter ended June 30, 2020.

The exchange had posted a net profit of Rs 41.32 crore in the year-ago period, BSE said in a regulatory filing on the NSE.

Total income declined to Rs 162.11 crore in the quarter under review from Rs 165.97 crore in the corresponding quarter a year ago.

"BSE's shift of expiry of weekly contracts from Thursday to Monday has been very well received by the market players, bringing a new wave of possibilities for the growth of BSE's equity derivative segment," the exchange's managing director and CEO Ashishkumar Chauhan said.

"The growth of turnover in the equity segment by 39 per cent in this quarter over the corresponding quarter previous year is highly encouraging. Coupled with the focus on "best price execution" of trades by trading members, the prospects for growth in equity segment in BSE also look brighter," he added.

The exchange reported a 52 per cent jump in transactions processed on StAR Mutual Fund platform to 1.86 crores during the quarter under review from 1.22 crore during the quarter ended June 30, 2019.

Besides, the bourse witnessed a 39 per cent increase in average daily turnover in the equity segment to Rs 3,724 crore during the quarter as compared with Rs 2,683 crore in the year-ago period.

The exchange's board has 'in-principle' approved exploration of the possibility of unlocking value in the distribution business of StAR MF, and appointment of a merchant banker for the same.

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(Published 03 August 2020, 15:30 IST)

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