BSE Q4 results, Net profit at Rs 107 crore

BSE Q4 results, Net profit at Rs 107 crore

Stock exchange BSE has reported a net profit of Rs 107 crore in the quarter ending March 2024, compared to Rs 91.2 crore during the same quarter last year. 

The yearly profit of BSE exchange’s net has surged over to Rs 778.4 crore in FY24 from Rs 220.7 crore in FY23 making 5 per cent stake sale in Central Depository Services. The company made a profit of Rs 406.62 crore on the divestment.

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The company's net income was affected by an expenditure of Rs 169.77 crore paid to the Securities and Exchange Board of India (SEBI) as a regulatory fee on the notional value of options contracts. The MD & CEO of the exchange, Sundararaman Ramamurthy, mentioned that they intend to request SEBI to review the fee structure for potential relief.

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BSE, or Bombay Stock Exchange, reported a significant increase in its revenue from operations for the March quarter, which reached Rs 488.37 crore compared to Rs 227 crore from a year ago. As a result, the exchange has declared a dividend of Rs 15 per share, which is subject to shareholder approval. In addition, the board of the bourse has authorized the disinvestment of its fully-owned subsidiary, BSE Institute.

The exchange is planning to launch StarMF 2.0 in the next quarter, which will be an upgraded version of its mutual fund platform StarMF with additional services. The board of the company has also approved the extension of Kamala Kantharaj's tenure as the chief regulatory officer for two years, up to July 2027.

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