BSE net profit up 62 per cent in Q1
The exchange plans to increase its stake in India International Bullion Holding IFSC through a secondary purchase of shares from its subsidiaries, India International Exchange and India International Clearing Corporation
BSE, India's leading stock exchange, saw its net profit surge by 62 per cent in the first quarter of the fiscal year, reaching ₹873 crore compared to ₹538 crore in the same period last year. Revenue also grew by 63 per cent to ₹1,566 crore, up from ₹958 crore earlier. The exchange aims to boost its stake in India International Bullion Holding IFSC through a secondary purchase from its subsidiaries, India International Exchange and India International Clearing Corporation.
BSE plans to acquire 50 crore shares worth ₹50.50 crore directly, increasing its direct shareholding from 3.33 per cent to 20 per cent. This move will make IIBH a direct associate company of BSE. Transaction charges collected by the exchange rose to ₹1,328 crore, while income from listing services declined marginally to ₹100 crore.
The average daily turnover on the exchange increased to ₹9,955 crore, and the average daily premium turnover reached ₹29,615 crore. BSE Star MF revenue grew by 20 per cent to ₹73 crore.
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