Friday, 4 August 2017

BSE`s Q1 result consolidated net profit zooms to Rs 524 cr

BSE, Asia's oldest stock exchange, Yesterday reported a 12-fold jump in net profit to Rs 523.70 crore for the June quarter of the current financial year. 

In comparison, the exchange had a net profit of Rs 43.70 crore in the first quarter of last fiscal, 2016-17, BSE said in a statement. 

The total income rose by 11 per cent to Rs 158.38 crore in the first quarter of the current fiscal (2017-18), from Rs 142.73 crore in the year-ago period. 

The exchange has made a 'gain on sale of subsidiary' totalling Rs 461.75 crore. It has partially divested its stake in a subsidiary company, CDSLBSE 0.00 %, on June 29, 2017. 

"The divestment has resulted in a loss of control and therefore the profit on sale of the investment in the subsidiary amounting to Rs 451.18 crore has been credited to the consolidated financial results during the quarter ended June 30, 2017," BSE said 

The exchange witnessed 155 per cent growth in the average monthly number of order processed in mutual fund segment to 9.2 lakh orders during the period under review from 3.6 Lakh in the first quarter of the preceding fiscal. 

Further, average daily turnover in India International Exchange, BSE's subsidiary at GIFT City, for July stood at USD 57 million, growing at monthly compounded growth rate of 96 per cent since commencement of operations in January. 

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