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CDSL Q2 net profit rises 80%, shares surge

Shares of Central Depository Services (India) Limited (CDSL) were trading over 2% higher to ₹1,382 apiece on the NSE in Monday’s early deals after announcing its quarter ended September 30, 2021. The standalone net profit surged 80% year-on-year (YoY) to ₹68 crore as compared to ₹38 crore, however, plunged 6% from the previous quarter.

CDSL’s total income rose 62% to ₹127.9 crore, up from ₹79 crore in the same quarter last year. CDSL became the first depository to register 4 crore demat accounts in July 2021. 68 lakh demat accounts were opened in Q2FY22, highest ever quarterly addition, (Q2FY21 – 29 lakhs). Value of Securities in Demat Custody (In crores) increased to 35.21 lakh crore as on September 30, 2021.

In the period ended September 30, 2021, the company through its subsidiary CVL continued to generate capital market investor records under CVL and being the first and largest KYC Registration Agency (KRA) in the country, it said.

On a consolidated basis, CDSL’s net profit for the second quarter grew 76% to ₹86 crore as compared to ₹49 crore in the corresponding quarter of the previous fiscal.

Central Depository Services (India) Limited (CDSL) is India’s leading and only listed depository. It facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges. Major shareholders of CDSL include BSE, Canara Bank, HDFC Bank, LIC and Standard Chartered Bank. CDSL along with its subsidiaries also provides a host of services to the financial intermediaries and markets

 

 

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