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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.


PTI 03 Aug 2018, 12:48 PM India

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.

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 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.

BSE scrips listed on the rival NSE rallied 2.5 percent to close at Rs 823.30, on a day its own benchmark, Sensex, rallied 1.05 percent to close at a new peak.

The broader Nifty index rallied 1.03 percent to close the trade at a new lifetime high.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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