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CDSL spurts after robust Q1 performance

Capital Market 

Central Depository Services (India) surged 9.02% to Rs 352.25 after the depository's consolidated net profit jumped 67.40% to Rs 46.72 crore on a 17% rise in total income to Rs 86.01 crore in Q1 FY20 over Q1 FY19.

Consolidated EBITDA for the quarter ended 30 June 2020 increased by 56% to Rs 58.80 crore from Rs 37.63 crore in the corresponding period last year.

During the last three months, the number of new active beneficial owners accounts with CDSL has increased by approximately 20 lakhs taking the total number of active beneficial to 2.32 crore.

As on 30 June 2020, CDSL has 596 depository participants, which comprised of clearing members, banks, custodians & non-banking financial companies, offering depository participants services.

The company has experienced a substantial growth in the number of companies / Issuers admitted in demat from 541 in FY 1999-00 to 14,018 in FY 2019-20, a growth of 18% CAGR.

Nehal Vora, MD & CEO said, CDSL has ensured that our Depository Services continued to work seamlessly during the last quarter despite the unprecedented outbreak of the pandemic of COVID-19. CDSL has observed a buoyant increase in the number of new demat accounts being opened and we would like to welcome the new investors into the capital market eco-system. Our continued effort would be to enhance the digital footprint in all facets of the financial markets.

Central Depository Services (India) (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. CDSL received its certificate of commencement of business from SEBI in February 1999 and it facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 27 2020. 14:54 IST