Depository major CDSL reported a 7 percent decline in its consolidated net profit to Rs 80 crore in three months ended September 2022.
In comparison, the depository posted a net profit of Rs 86 crore in the year-ago period, Central Depository Services (India) Limited (CDSL) said in a statement. The company’s total revenue rose 3 percent to Rs 170 crore during the period under review. The same was at Rs 165 crore in the second quarter ended September 30, 2021.
According to the company, 48 lakh demat accounts were opened in the September quarter of the current fiscal.
“The financial performance this quarter continues to be strengthened by our sustainable long-term strategy of investing in the digital ecosystems and robust technology to provide all market participants with an easy and secure platform,” said CDSL MD and CEO Nehal Vora.
CDSL facilitates holding and transaction in securities in the electronic form as well as settlement of trades on stock exchanges. It maintains and services 7 demat accounts of Investors or Beneficial Owners (BOs) spread across India. These BOs are served by CDSL’s 580 depot participants from more than 20,000 locations.
For the half year ended September 30, 2022, the depository’s net profit declined by 8 percent to Rs 138 crore, while total income grew by 7 percent to Rs 316 crore.
(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)