CDSL Q1 PAT surges 67 pc to Rs 47 cr

Leading depository CDSL on Monday reported 67 per cent jump in profit after tax (PAT) at Rs 46.73 crore for June quarter 2020-21. It had a PAT of Rs 27.91 crore in the year-ago period, the Central Depository Services Ltd (CDSL) said in a statement.

Leading depository CDSL on Monday reported 67 per cent jump in profit after tax (PAT) at Rs 46.73 crore for June quarter 2020-21. It had a PAT of Rs 27.91 crore in the year-ago period, the Central Depository Services Ltd (CDSL) said in a statement. Its income during the quarter increased to Rs 86.01 crore from Rs 76.43 crore in April-June 2019-20. "CDSL has ensured that our depository services continued to work seamlessly during the last quarter despite the unprecedented outbreak of the pandemic of COVID-19. Our endeavour has been to ensure a steady state in all our operations without compromising the well-being of our employees," CDSL's Managing Director and CEO Nehal Vora said.

During the last three months, the number of new active beneficial owners accounts increased by about 20 lakh to  2.32 crore. As of June 30, 2020, CDSL had 596 depository participants offering services  from  over  20,000  locations  across  the  country.  These depository  participants comprise clearing members, banks, custodians and non-banking financial companies.

CDSL, which allows investors to deposit securities by opening an account in electronic form (dematerialised), gets its revenues from transaction charges, account maintenance charges and settlement charges paid by depository participants as well as annual fees, corporate action and e-voting charges paid by companies whose securities are admitted in the depository's system..