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BSE Q2 Results | BSE’s 137% topline growth for this quarter was primarily driven by transaction charges and services provided to corporates. EBITDA exceeded expectations, supported by lower-than-anticipated operating expenses. Shares of BSE ended at ₹4,678.20, up by ₹55.05, or 1.19%, on the NSE.
India's oldest exchange BSE Ltd on Tuesday (November 12) reported a 187.8% year-on-year (YoY) jump in net profit at ₹346.8 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, BSE posted a net profit of ₹120.5 crore, the company said in a regulatory filing.
Revenue from operations zoomed 137.3% to ₹746.3 crore against ₹314.5 crore in the year-ago period.
BSE’s topline growth for Q2 was primarily driven by transaction charges and services provided to corporates. EBITDA exceeded expectations, supported by lower-than-anticipated operating expenses.
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The company saw reduced employee expenses and regulatory contributions, alongside a notable 14% quarter-on-quarter (QoQ) decline in other expenses, contributing to the favourable EBITDA performance.
The BSE recorded its best half-year revenue and profit of ₹1,493 crore and ₹610 crore, respectively, the exchange's MD and CEO Sundararaman Ramamurthy said. The average daily turnover in the equity cash segment for the second quarter of FY25 rose to ₹9,768 crore from ₹5,922 crore in the same quarter last year.
The average daily premium turnover in the equity derivatives segment for Q2 FY25 was at ₹8,203 crore compared to ₹768 crore in the same quarter last year. BSE StAR MF delivered a 100% YoY growth in revenue to ₹58.7 crore.
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The total number of transactions processed by BSE StAR MF grew 68% to 16.28 crore in the quarter under review from 9.67 crore in the year-ago period. Further, the exchange announced divestment in BSE Institute by the sale of a 100% stake.
"In continuation to the intimation dated May 8, 2024, wherein the board of BSE Ltd had accorded its in-principle approval for disinvestment of BSE's holding in BSE Institute Ltd, it is hereby informed that the sale of 100 per cent stake in BSE Institute Ltd, has been approved, subject to terms & conditions as may be agreeable between the parties and statutory /regulatory approvals, as may be applicable," the exchange said.
The results came after the close of the market hours. Shares of BSE ended at ₹4,678.20, up by ₹55.05, or 1.19%, on the NSE.
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(Edited by : Shoma Bhattacharjee)
