BSE logs a three-fold jump in Q2 net profit to ₹347 Crore

13 Nov 2024 , 09:21 AM

BSE Ltd, India’s oldest exchange, announced an 187.8% year-on-year (YoY) increase in net profit to ₹346.8 Crore for the second quarter ended September 30, 2024. In the preceding fiscal quarter, BSE reported a net profit of ₹120.5 Crore, according to a regulatory filing.

The company stated that its revenue from operations climbed by 137.3% y-o-y to ₹746.3 Crore in the quarter under review, against ₹314.5 Crore in the previous year.

The BSE’s second-quarter topline increase was primarily driven by transaction charges and corporate services. EBITDA exceeded estimates, aided by lower-than-expected operating costs.

The company observed reduced staff expenses and regulatory contributions, as well as a significant 14% quarter-on-quarter (QoQ) decrease in other expenses, which contributed to the positive EBITDA performance.

In Q2 FY25, the equity derivatives segment saw an average daily premium turnover of ₹8,203 Crore, up from ₹768 Crore in the same period the previous year. BSE StAR MF saw a 100% YoY increase in revenue of ₹58.7 Crore.

The company also added that a total of 16.28 Crore transactions in the quarter under review were logged by the BSE StAR MF, up by 68% y-o-y against 9.67 Crore in the previous corresponding period. Furthermore, the exchange declared that it would divest from BSE Institute by selling a 100% interest.

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