BSE reports marginal 4 percent rise in consolidated net profit
Average daily turnover at the India International Exchange, which is a wholly-owned subsidiary of the exchange at the Gift City in Gandhinagar, soared to USD 447 million from USD 37 million.
The oldest Asian bourse, BSE, today reported a marginal 4 percent rise in consolidated net profit at Rs 51.50 crore for the quarter to June, while its revenue rose a tad lower at 3 percent to Rs 166.41 crore.
Consolidated revenue from operations rose 6 percent to Rs 116.99 crore for the quarter, the exchange said in a statement. Currency derivative segment average daily turnover increased by 73 percent to Rs 31,418 crore, while monthly orders processed in mutual funds increased by 152 percent to 70 lakh from 28 lakh.
The exchange successfully completed buyback on July 9, and the issued equity share capital now stands reduced by 3.70 percent to Rs 10.51 crore.
During the quarter, the BSE entered into an agreement with the Bombay Metal Exchange to help the growth and systematic development of commodity derivatives markets in the non-ferrous metals complex.
Commenting on the financial performance, Ashishkumar Chauhan, managing director and chief executive, BSE, said, "Our success in mutual funds, currency derivatives, SME, India INX platforms has set the base for us to focus on the growth of the next-gen products that cater to an emerging India."
Established in 1875, the BSE is the world's fastest stock exchange with a speed of six microseconds and also the first listed equity bourse in the country.
The BSE platform facilitates trading in equities, debt, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
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