CDSL Q3 net profit up 55 pc to Rs 83.63 cr

It maintains and services more than 5.5 crore demat accounts of investors or beneficial owners BOs spread across India.

Leading depository CDSL on Monday reported a 55 per cent jump in consolidated net profit to Rs 83.63 crore for the three months ended December 31.

It had posted a net profit of Rs 54.03 crore in the same quarter of the preceding fiscal, Central Depository Services (India) Limited (CDSL) said in a statement.

The company's total income rose 58 per cent to Rs 162.93 crore in the quarter under review, from Rs 103.2 crore in the year-ago period.

CDSL became the first depository to register five crore demat accounts in November 2021. Moreover, 91 lakh demat accounts were opened in Q3 FY22.

''During the quarter, we crossed another milestone of 5 crore investor accounts. In this growing environment, the goal of our company is to create and be part of a financial ecosystem that is secured and provides ease of business,'' Nehal Vora, MD and CEO at CDSL, said.

CDSL facilitates holding and transacting securities in the electronic form and facilitates the settlement of trades on stock exchanges. It maintains and services more than 5.5 crore demat accounts of investors or beneficial owners (BOs) spread across India. These BOs are serviced by CDSL's over 590 depository participants from over 21,400 locations.

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