BSE, one of the oldest stock exchanges, has reported that its net profit in the December quarter was down 18 per cent at ₹48 crore (₹58 crore) on higher expenses.

Revenue was up at ₹204 crore (₹193 crore), while expenses increased 23 per cent to ₹188 crore (₹153 crore).

The Board of the BSE has approved the divestment of 2.5 per cent of BSE stake in Central Depositary Services towards meeting regulatory norms.

Balanced business model

Sundararaman Ramamurthy, Managing Director, BSE, said the exchange is confident of rising to the current and future challenges and rising to newer heights.

The BSE reported a “sustained third quarter results amidst a difficult market environment,” he said. The year 2022 was a period of transition for the BSE , “and as we embark on a new journey in the new financial year, I believe that a balanced business model will enable us to grow much higher,” he added.

The average daily turnover in the equity segment decreased 11 per cent to ₹4,234 crore compared with the previous quarter. Its average daily turnover in the equity derivatives segment decreased 13 per cent to ₹1.97-lakh crore. The average daily turnover in the currency derivatives dipped 18 per cent to ₹26,246 crore.

Transactions on BSE StAR MF increased 37 per cent to 6.86 crore in the quarter under review and processed 37.75 lakh transactions in a single day.

India INX, the international exchange at GIFT City, reported an average daily trading turnover of $18 billion and a market share of 95 per cent. India INX has about $70-billion medium-term notes established and about $50 billion of bond listings till date. Total cumulative trading turnover at Indian INX GA stands at $7,369 million for the quarter ended last December.