CDSL Total Income Grows 3% To Rs 170 Cr, Net Profit Falls 7% To Rs 80 Cr In Q2

As compared to previous year’s data, the depository had recorded a net profit of Rs 86 crore, revealed CDSL in a statement. At around 48 lakh demat accounts were opened in the September quarter of the current fiscal, according to the company. Along with settlement of trades on stock exchanges, CDSL also facilitates holding and transacting in securities in the electronic form

India’s leading depository Central Depository Services (India) Limited (CDSL) recorded a 7 per cent fall to Rs 80 crore in its consolidated net profit in three months September 2022 end.

As compared to previous year’s data, the depository had recorded a net profit of Rs 86 crore, revealed CDSL in a statement.

The company’s total income witnessed a surge of 3 per cent to Rs 170 crore during the period under review. The figure stood at Rs 165 crore in the second quarter 30 September 2021 end.

At around 48 lakh demat accounts were opened in the September quarter of the current fiscal, according to the company.

MD and CEO, CDSL, Nehal Vora said that company’s sustainable long-term strategy of investing in the digital eco-systems and robust technology has led to consistent strengthening of financial performance this quarter. This enables the company to provide an easy and secured platform to all market participants.

Along with settlement of trades on stock exchanges, CDSL also facilitates holding and transacting in securities in the electronic form.

In total 7 demat accounts of Investors or Beneficial Owners (BOs) are maintained and serviced by the company, across India. From around 20,000 locations, these BOs are serviced by CDSL’s 580 depository participants.

The depository’s net profit fell by 8 per cent to Rs 138 crore, whereas the total income went up by 7 per cent to Rs 316 crore, for the half year ending 30 September 2022.