Bombay Stock Exchange Q3 net profit drops 17% to Rs64 crore

BSE’s total income however increased to Rs174.72 crore in the third quarter, from Rs160.56 crore in the same period a year ago


BSE had posted a net profit of Rs76.73 crore in the third quarter ended 31 December 2015-16
BSE had posted a net profit of Rs76.73 crore in the third quarter ended 31 December 2015-16

New Delhi: Leading stock exchange BSE has reported a 17% decline in consolidate net profit to Rs63.73 crore in the October-December quarter of the current fiscal.

The exchange had posted a net profit of Rs76.73 crore in the third quarter ended 31 December 2015-16, latest update available with BSE (formerly known as Bombay Stock Exchange) website showed.

However, total income increased to Rs174.72 crore in the third quarter, from Rs160.56 crore in the same period a year ago. Overall expenses rose to Rs112.36 crore in the quarter under review, from Rs97.78 crore in the same period last fiscal, mainly due to employees, computer technology and administration related spending.

Employee costs surged by 21% to Rs32.46 crore. The exchange’s group firms include CDSL, Indian Clearing Corporation, BSE Institute and BSE Investments. On a standalone basis, BSE’s net profit rose to Rs70.07 crore during the quarter under review, from Rs32.37 crore in the year-ago period.

The exchange’s total income grew to Rs122.56 crore from Rs108.53 crore. Earlier this month, BSE got listed on the rival NSE platform, becoming the first stock exchange to go public. Shares of BSE were trading at Rs998.85 apiece on the NSE on Wednesday, down 0.51% from the previous close.

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