CDSL Q2 results: Net profit jumps 24% YoY to Rs 173 crore, revenue up 24%
CDSL reported a 24% year-on-year rise in Q2 net profit to Rs 173 crore, while revenue grew 23.7% to Rs 395 crore. EBITDA margin expanded to 58%. The depository opened around 75 lakh new demat accounts during the quarter, taking assets under custody beyond Rs 89 lakh crore.
Central Depository Services (India) Limited (CDSL) reported a 24% year-on-year increase in net profit to Rs 173 crore in the second quarter, with revenue growing 23.7% to Rs 395 crore. EBITDA reached Rs 229 crore with an expanded EBITDA margin of 58%. CDSL opened approximately 75 lakh new demat accounts, boosting its assets under custody to over Rs 89 lakh crore.
As of the end of Q2, CDSL's demat account base grew by around 17% year-on-year. Managing Director and CEO Nehal Vora stated that market participation remained resilient despite global economic fluctuations. The company plans to further strengthen its operations and value proposition. CDSL also invested in India International Bullion Holding IFSC Limited and the Open Network for Digital Commerce.
Additionally, CDSL's subsidiary, Centrico Insurance Repository Limited, signed a software development partnership with Shoveltech Solutions Private Limited. CDSL facilitates electronic holding, settlement, and transfer of securities for various market participants and manages over 19.34 crore demat accounts.
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