Central Depository Services Ltd. (CDSL) posted impressive financial results for Q2 FY24, with significant growth across key financial metrics. The company's net profit surged by 47.9% year-on-year, reflecting strong business performance, particularly in the capital markets and IPO-related activities. Total revenue for the quarter increased by 39% compared to the same period last year, largely driven by a growing number of demat accounts and increased activity in corporate actions.
Key Highlights:
- Revenue: ₹207.31 crore, marking a significant increase from the previous quarter.
- Net Profit: ₹108.85 crore, a substantial rise compared to Q1, driven by higher demat account registrations and market participation.
- Operating Income: ₹122.88 crore, highlighting the efficiency of the company's operations.
CDSL's robust growth was fueled by favorable market conditions, with more investors opening accounts and participating in IPOs. This resulted in higher depository-related income and a strong performance in KYC (Know Your Customer) operations, which also contributed to the increased earnings.
Looking ahead, CDSL is expected to continue benefiting from the buoyant stock market and an increasing number of investors seeking access to capital markets. The company's technological investments and regulatory compliance are set to further strengthen its market position.
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