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(Photo: Mint)
(Photo: Mint)

BSE Q1 net profit slips 21.4% to 32.48 crore

Inspite of covid-19, the platform has processed a record 11.58 lakh transactions on a single day on April 13, 2020, BSE said

Mumbai: BSE on Monday reported a net profit of 32.48 crore for the quarter ended June 2020, registering a fall of 21.4% from 41.32 crore in the year-ago period. However, its net profit was higher than 14.71 crore estimated by a Bloomberg poll of three analysts. In the last quarter ended 31 March, BSE had posted a loss of 1.91 crore.

During the quarter, its total income dropped 6.3% to 162.11 crore from 172.99 crore in the same period preceding fiscal.

“The board in its meeting held today has ‘in-principle’ approved exploration of the possibility of unlocking value in BSE’s distribution business of StAR MF and appoint a merchant banker for the same," said BSE in a press statement.

Transactions processed in StAR Mutual Fund platform increased 52% to 186 lakhs during the quarter ended June 30, 2020 as against 122 lakhs during the quarter ended June 30, 2019. “Inspite of covid-19, the platform has processed a record 11.58 lakh transactions on a single day on April 13, 2020 surpassing the previous best record of 10.10 lakh transactions on February 10, 2020," it said in a statement. The total number of systematic investment plan (SIP) registered under the segment increased by 51% to 1.78 lakhs for the quarter ended June 30, 2020 from 1.18 lakhs for June quarter last year.

Average daily turnover in equity segment increased 39% to 3,724 crore during the quarter ended June 30, 2020 as compared to the 2,683 crore during the quarter ended June 30, 2019.

Ashishkumar Chauhan MD and CEO of BSE said: “BSE’s shift of expiry of weekly contracts from Thursday to Monday has been very well received by the market players bring a new wave of possibilities for the growth of BSE’s equity derivative segment. The growth of turnover in equity segment by 39% in this quarter over corresponding quarter previous year is highly encouraging. The achievement of total turnover of $1 trillion by India INX is another feather in the cap of the BSE group."

Average daily turnover in equity derivatives segment increased over 6 times to 26,196 crore for the month of July 2020 from 3,915 crore. This comes after shifting weekly expiry of derivatives contracts from Thursday to Monday with effect from June 29, 2020.

The average daily turnover of currency futures segment for the quarter ended June 30, 2020 was 7,920 crore and the average daily turnover in the Options Segment for the quarter ended June 30, 2020 was 10,405 crore.

“The total number of members admitted in this segment is 278. The turnover in Commodity Derivatives segment for the quarter ended June 30, 2020 was 30,251 crore and highest turnover of 5,010 crore recorded on July 29, 2020," it added.

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