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Saturday, Sep 07, 2002

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BSE net up 90 pc

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MUMBAI, Sept. 6

IN spite of falling turnover on the Bombay Stock Exchange (BSE), the exchange's net profit has increased by 90 per cent to Rs 10.65 crore for the year ended March 31, 2002 compared to Rs 5.60 crore in March 2001.

The income of the BSE fell from Rs 183.82 crore to Rs 147.84 crore during the same period.

The increase in net profit is mainly on account of cost cutting measures. This was seen from the reduction in total expenditure. For the financial year 2001-02, the expenditure of the exchange fell from Rs 131.10 crore (March 2001) to Rs 121.79 crore, a reduction of seven per cent ( Rs 9.31 crore).

During the year, there was rise in the ratio of deliveries. The percentage of delivery of securities to turnover increased to 19.52 per cent in 2001-02 from 17.47 per cent in 2000-01.

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