BSE Q4 net profit drops 16.46 pc to Rs 51.86 cr

The BSE Tuesday reported a 16.46 per cent fall in consolidated net profit to Rs 51.86 crore for the quarter ended March 31, 2019.

The exchange had posted a net profit of Rs 62.08 crore for the corresponding period of the previous year, the BSE said in a filing to the NSE.

Its total income also fell to Rs 182.08 crore from Rs 195.34 crore in March 31, 2018.

On a standalone basis, the stock exchange reported a profit of Rs 43.85 crore, down from Rs 61.11 crore during the quarter ended March 31, 2018.

For the financial year 2018-19, the consolidated net profit was Rs 199.28 crore and the standalone net profit at Rs 201.05 crore, it added.

The BSE has approved a dividend of Rs 30 per equity share of Rs 2 each, including interim dividend of Rs 5 per equity share paid in November 2018 for the year ended March 31, 2019, subject to approval of members at the ensuing annual general meeting.

The exchange will buy back its fully paid-up equity shares of Rs 2 each at Rs 680 per equity share through tender offer route, subject to passing of a special resolution by the shareholders of the company. The total amount of buyback size would be maximum of Rs 460 crore,it added.

Ashishkumar Chauhan, managing director and chief executive officer, said, "The BSE continues to grow from traditional stock exchange platform to an agile, high-tech e-commerce platform for distribution of financial products with ability to integrate many more services as well as products."