Shares of the Bombay Stock Exchange (BSE) have opened with gains of over 10% on Thursday after the company reported its June quarter results after market hours on Wednesday evening.
It was a strong quarter for BSE as the exchange reported a 24% revenue growth compared to the March quarter last year to ₹607.7 crore. The revenue growth was aided by a 45% quarter-on-quarter increase in transaction charges, which stood at ₹366.3 crore.
A 7.6% treasury income growth and 16.4% growth in other securities services also contributed to BSE's topline during the quarter.
The key highlight for the quarter was the 25 percentage points jump in BSE's EBITDA margin, which stood at 47% from 19.7% in the March quarter.
BSE's margin saw an expansion during the quarter due to a 53% drop in SEBI regulatory fees and another 5% decline in administrative and other expenses.
The exchange was asked to pay regulatory fees to market regulatory SEBI based on the annual turnover calculated from the "notional value" of the options contract in contrast to the "premium value."
BSE had made a provision worth ₹170 crore for regulatory fees in financial year 2024.
Among other earnings parameters, BSE's net profit stood at ₹265 crore from ₹107 crore in the March quarter, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) more than doubled from March to ₹284 crore from ₹96 crore.
Shares of BSE are currently trading 7% higher at ₹2,567.
Shares of BSE have been underperformers in the recent past, having corrected over 30% from its peak of over ₹3,200. The stock has been flat over the last one month and is up 9% so far in 2024.
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