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BSE net profit drops 16.46% to Rs 51.86 crore in March quarter

The total income for the quarter under review also fell to Rs 182.08 crore from Rs 195.34 crore in March 31, 2018

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BSE net profit drops 16.46% to Rs 51.86 crore in March quarter

The BSE on Tuesday reported a 16.46 per cent year-on-year decline in consolidated net profit at Rs 51.86 crore during the fourth quarter ended March 31, 2019.

"The exchange had posted consolidated net profit of Rs 62.08 crore during the same quarter last year," BSE said in a statement.

The total income for the quarter under review also fell to Rs 182.08 crore from Rs 195.34 crore in March 31, 2018, it said.

On a standalone basis, the BSE reported a profit of Rs 43.85 crore during Q4 FY19, down from Rs 61.11 crore during Q4 FY18. The translates into a 28.24 per cent decline in the standalone basis.

For the financial year 2018-19, the consolidated net profit was Rs 199.28 crore and the standalone net profit at Rs 201.05 crore, it added.

The BSE also approved a dividend of Rs 30 per equity share of Rs 2 each, including interim dividend of Rs 5 per equity share paid in November 2018 for the year ended March 31, 2019. The dividend is subject to approval of members at the upcoming 14th Annual General Meeting (AGM) of the bourse.

The exchange will also buy back its fully paid-up equity shares of Rs 2 each at Rs 680 per equity share through tender offer route, subject to passing of a special resolution by the shareholders of the company. The total amount of buyback size would be maximum of Rs 460 crore, BSE said in its statement.

"The BSE continues to grow from traditional stock exchange platform to an agile, high-tech e-commerce platform for distribution of financial products with ability to integrate many more services as well as products," said Ashishkumar Chauhan, Managing Director and Chief Executive Officer of BSE.

"Currency derivatives, Commodity derivatives, India International Exchange, Bond Distribution, SME, OFS and IPO have emerged as important market where BSE has acquired a good market share on the back of better technology, excellent services and lower pricing, we have to consolidate our position to acquire good markets in near future," he further added.

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