Latest News | CDSL's Quarterly Profit Jumps 51 Pc to Rs 78 Crore

New Delhi, Apr 29 (PTI) Leading depository CDSL on Friday reported a 51 per cent jump in its net profit to Rs 78.12 crore for the quarter ended March.

It had posted a net profit of Rs 51.65 crore in the year-ago period, CDSL said in a statement.

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The company's total income rose by 34 per cent to Rs 148.02 crore in the quarter under review, from Rs 110.25 crore in the same period a year ago.

For the financial year 2021-22, the depository clocked a net profit of Rs 263.73 crore, a surge of 65 per cent from the preceding fiscal. The total income stood at Rs 480.13 crore in FY 21-22, a growth of 54 per cent.

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In February this year, Central Depository Services (India) Limited (CDSL) became the first depository to register 6 crore demat accounts. Moreover, 74 lakh demat accounts were opened in the fourth quarter of FY22.

"We saw the year-on-year growth momentum continuing in Q4 with improved earnings quality as compared to the Q4 of the previous financial year. During the quarter, we crossed another milestone of 6 crore demat account.

"Throughout 2021-22, CDSL has continued with its strong investor focused approach while maintaining a steady effort towards innovation. As a result, we have delivered strong organic growth and a healthy margin," Nehal Vora, Managing Director and CEO of CDSL, said.

The company's board has declared a final dividend of Rs 15 per equity share for FY22, subject to the approval of the shareholders. This is the highest ever in the history of the company.

CDSL facilitates holding and transacting in securities in electronic form and facilitates settlement of trades on stock exchanges.

It maintains and services more than 5.5 crore demat accounts of investors or Beneficial Owners (BOs) spread across India. These BOs are serviced by over 590 depository participants of CDSL from over 21,400 locations.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)