BSE group Q1 net inches up 4% at Rs 51.5 cr

The oldest Asian bourse, BSE, today reported a marginal 4 per cent rise in consolidated net profit at Rs 51.50 crore for the quarter to June, while its revenue rose a tad lower at 3 per cent to Rs 166.41 crore.

Consolidated revenue from operations rose 6 per cent to Rs 116.99 crore for the quarter, the exchange said in a statement.

Currency derivative segment average daily turnover increased by 73 per cent to Rs 31,418 crore, while monthly orders processed in mutual funds increased by 152 per cent to 70 lakh from 28 lakh.

Average daily turnover at the India International Exchange, which is a wholly-owned subsidiary of the exchange at the Gift City in Gandhinagar, soared to USD 447 million from USD 37 million.

The exchange successfully completed buyback on July 9, and the issued equity share capital now stands reduced by 3.70 per cent to Rs 10.51 crore.

During the quarter, the BSE entered into an agreement with the Bombay Metal Exchange to help the growth and systematic development of commodity derivatives markets in the non-ferrous metals complex.

Commenting on financial performance, Ashishkumar Chauhan, managing director and chief executive, BSE, said, "Our success in mutual funds, currency derivatives, SME, India INX platforms has set the base for us to focus on growth of the next-gen products that cater to an emerging India."