The revenue from operations for the June quarter stood at Rs 608 crore as against Rs 216 crore in the last year quarter.
The net profit for the quarter, however, fell to Rs 265 crore which is down 40% YoY compared with Rs 443 crore reported in the year-ago period.
Investment income during the first quarter rose 43% YoY to Rs 62.9 crore. It was Rs 43.99 crore in the same quarter of last year. Meanwhile, other income declined significantly to Rs 3.7 crore in the April-June 2024 period from Rs 11.57 crore posted the corresponding period of last year.
Domestic brokerage firm Motilal Oswal, while reiterating its neutral rating on BSE with a target price of Rs 2,700, stated that the relaunch of BSE derivatives products has proved to be a trend-changing measure.βIncreased member participation, new product launches (stock derivatives), rising awareness about products, and a recent launch of stock derivatives would continue to drive market share gains for BSE,β said Motilal Oswal in its report.Also read: Traders lose billions on big volatility short after stocks rout
Other levers that will support growth over the medium term, according to the domestic brokerage firm, include colocation revenues, continued momentum in the STAR MF business, growth in the cash segment, possibility of levying a fee for listing of debt securities, start of operations at its power exchange and the commencement of revenue from its Gold Spot exchange.
With markets regulator Sebi also playing tough cop to de-addict retail traders from derivatives, India’s oldest stock exchange BSE may be seen as further gaining market share in the F&O market from rival NSE.
This is because among the seven proposals suggested by Sebi, the limiting of weekly options contracts to only one benchmark index of the exchange will severely hit NSE options volumes as it has 4 weekly expiries.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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