Bombay Stock Exchange Reports Huge Surge in Net Profit and Growth in Volume

India's leading exchange reports 1098% growth in net profit YoY and a good rise in volumes in its equity segment.

The Bombay Stock Exchange (BSE), India’s leading exchange, has reported its first quarter earnings report for FY 2018. The company has reported its highest ever consolidated net profit of Rs 523.70 crore ($82.2 million), a jump of 1098 percent on a year-on-year basis.

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During the quarter the exchange reported an increase of 11 percent in revenue from operations – Rs. 102.64 crores ($16 million). EBITDA (earnings before interest tax depreciation and amortization) is up by 16% at Rs 71.61 crore ($11 million).

On the volume front, the exchange clocked an increase of 51 percent in average daily turnover in its equity cash segment to Rs 4133 crore ($650 million), and 15 percent in the currency derivative segment to Rs 18147 crore ($2.85 billion). Its subsidiary, India International Exchange (IFSC) Ltd, has reported daily turnover of $57 million which is growing at a compounded monthly rate of 96 percent since its launch in January 2017, and 155 percent growth in mutual fund orders compared to the previous month. In the report, the company did not mention any source of income to which the surge in net profit could be attributed.

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The CEO and MD of BSE India commented on the Q1 earnings: “It is heartening to note that quite a few initiatives seeded in earlier years are showing good growth and potential for increasing stakeholder valuation.   Our International Exchange continues to get attraction from investors and we are focused on achieving the target of enabling Indian firms to compete on equal footing with offshore firms.”

Set up in 1875, BSE is known as Asia’s oldest and fastest exchange. It provides trading services in equities, derivatives, debt, currency, interest rate derivatives, mutual funds, stock lending and borrowing.



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