Stocks

BSE second-quarter net down 22% on lower revenue

Our Bureau Mumbai | Updated on November 06, 2019

The Bombay Stock Exchange building is being illuminated during a special Muhurat trading session for Diwali festival in Mumbai on Sunday, October 27, 2019.   -  Paul Noronha

BSE on Wednesday reported that its net profit in the September quarter was down 22 per cent at ₹36 crore against ₹46 crore logged in the same period last year.

Revenue from operations were down 5 per cent at ₹109 crore (₹115 crore). Total expenses increased to ₹134 crore (₹121 crore).

BSE has undertaken buyback of 67.65 lakh equity shares at ₹680 an equity share through the tender offer route. The buyback closed on September 16 and the exchange had bought back shares worth ₹460 crore. The consolidated and standalone net worth of BSE stand at ₹2,400 crore and ₹2,065 crore, respectively, as on September 30, 2019 .

Ashishkumar Chauhan, Managing Director & CEO, said the issuance of in-principle approval to BSE-Ebix Insurance Broking to act as a direct insurance broker by the Insurance Regulatory and Development Authority of India is a significant next step for the BSE group to transform itself as a full-fledged financial services and distribution platform.

The implementation of inter-operability among clearing corporations is a major reform in the Indian capital market and BSE looks forward to higher liquidity across its inter-operable platforms, he added.

Published on November 06, 2019

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