BSE Q4 Profit Surges 21% to Rs 107 cr

New Delhi, May 8 (PTI) Leading stock exchange BSE on Wednesday reported a 21 per cent increase in net profit to Rs 107 crore for the March quarter.

In comparison, the bourse had posted a net profit of Rs 88.6 crore in the year-ago period.

The bourse's total income doubled to Rs 548.36 crore in the January-March period of 2023-24 from Rs 271.5 crore registered in the year-ago period, BSE said in a filing to the National Stock Exchange (NSE).

The exchange has declared a final dividend of Rs 15 per equity share of face value of Rs 2 each. This is subject to approval of shareholders at the upcoming annual general meeting.

In a statement, the BSE said it has registered an 86 per cent year-on-year surge in net profit to Rs 411 crore for the financial year 2023-24 from Rs 221 crore in FY23.

Also, the exchange recorded its highest-ever revenues to Rs 1,618 crore, marking a growth of 70 per cent from the preceding fiscal.

"We have created a strong portfolio of businesses, a rapid pace of innovation, and a strategy that is well understood. Now it's time to widen and deepen our existing product offerings, and we feel that we are on the right track," BSE MD and CEO Sundararaman Ramamurthy, said.

The exchange said S&P Dow Jones Indices LLC is in discussion with the BSE for divestment of its equity stake in Asia Index Private Limited, a 50-50 joint venture with BSE.

"This will be an important area of focus in the coming year," the BSE said.