CDSL gains after Q3 PAT jumps 66% YoY

Central Depository Services (India) gained 3.18% to Rs 504.20 after the company reported 66.3% rise in consolidated net profit to Rs 48.75 crore on 69.4% increase in net sales to Rs 89.20 crore in Q3 FY21 over Q3 FY20.

Consolidated profit before tax rose 66.7% to Rs 63.71 crore in Q3 FY21 from Rs 38.22 crore in Q3 FY20. Tax expense were steeply higher at Rs 16.52 crore in Q3 FY21 from Rs 5.81 crore in Q3 FY20.

During the last three months, the number of new active beneficial owners accounts with CDSL has increased by 28 lakh taking the total number of active beneficial to 2.89 crore. As on 31 December 2020, CDSL said it has 589 depository participants offering depository participants services from over 20,600 locations across the country. These depository participants comprise of clearing members, banks, custodians & non-banking financial companies.

Commenting on company's performance, Nehal Vora, MD & CEO said, "We are very happy to report the robust financial performance for the third quarter of this financial year. Digital products and online services have yet again proven to be the game changer for the capital markets. We are fully committed to drive our prime focus of building a good governance and regulatory framework, transparency, self sufficiency of investors (atmanirbhar niveshak) and secured services."

CDSL is India's leading and only listed depository, with an objective of providing convenient, dependable and secure depository services at affordable cost to all market participants.

Powered by Capital Market - Live News