Central Depository Services (India) Ltd (CDSL) reported a 24% year-on-year growth in consolidated net profit, reaching 173 crore rupees for the period from July to September. This growth was driven by the continued increase in participation in the Indian securities market.
In the second quarter of the fiscal year 27, consolidated total revenue increased by 22% compared to the previous year, amounting to 417 crore rupees, whereas it was 341 crore rupees a year ago. Compared to the June quarter, net profit rose by 47%, climbing from 118 crore rupees, and total revenue increased by 22% from 341 crore rupees.
For the first half of the fiscal year 27, consolidated net profit increased by 20% to 291 crore rupees, and total revenue grew by 19% to 758 crore rupees.
On an individual basis, CDSL's net profit grew by 28% year-on-year to 163 crore rupees in the second quarter, while total revenue increased by 24% to 359 crore rupees. Over six months ending in September, individual profit rose by 10% to 308 crore rupees, and income increased by 14% to 685 crore rupees.
During the quarter, the depository added about 75 lakh dematerialized accounts, bringing assets under custody to over 89 lakh crore rupees. According to Managing Director and CEO Nehal Vora, the company's dematerialized account base grew by approximately 17% year-on-year as of the end of September.
Nehal Vora noted that despite global macroeconomic volatility, participation in the Indian securities market continues to show resilience. He added that the growth in market participation encourages the company to strengthen its operations and value proposition.
CDSL, being Asia's first listed depository organization, manages over 19.34 crore dematerialized accounts and collaborates with more than 590 depository participants.
During the quarter, the company made additional investments in India International Bullion Holding IFSC Ltd to support, among other things, the development of IT infrastructure. A strategic investment was also made in Open Network for Digital Commerce, an initiative of the Department of Promotion of Industry and Internal Trade of the Ministry of Commerce.
CDSL's subsidiary, Centrico Insurance Repository Ltd, entered into a software development partnership with the medical technology company Shoveltech Solutions Pvt Ltd.
Furthermore, during the quarter, CDSL expanded its investor education programs, including creating a multilingual film in collaboration with Amar Chitra Katha and distributing educational comics to nearly 21,000 students in 60 schools jointly with Yuva Unstoppable. The company's investor protection fund conducted over 700 investor awareness programs across the country.