CDSL Achieves Milestone with Over 15 Crore Demat Accounts
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Synopsis
The Central Depository Services (India) Ltd (CDSL) has made history by surpassing 15 crore demat accounts, solidifying its position as India's first depository to reach this significant milestone, reflecting the growing interest of retail investors in the stock market.
Key Takeaways
- CDSL registered over 15 crore demat accounts.
- First depository in India to achieve this milestone.
- Strong financial growth with a 21% increase in net profit.
- 92 lakh new Demat accounts opened in Q3 FY24.
- Reflects sustained retail investor interest in the stock market.
Mumbai, Feb 12 (NationPress) The Central Depository Services (India) Ltd (CDSL) announced on Wednesday that it has successfully registered over 15 crore demat accounts, marking a significant achievement as the first depository in India to reach this milestone.
In its filing to the stock exchange, CDSL emphasized that this accomplishment underscores its dominance in providing secure and efficient services to millions of investors.
The depository has significantly contributed to enhancing the accessibility of financial markets for retail investors throughout the nation.
Just a few months prior, in November 2023, CDSL had already surpassed the 10 crore Demat account threshold. In the December 2024 quarter, an impressive 92 lakh new Demat accounts were opened.
Additionally, CDSL reported strong financial performance for the same quarter.
The company’s net profit increased by 21 per cent year-on-year to Rs 130 crore, compared to Rs 107 crore in the corresponding quarter last year (Q3 FY24).
However, the net profit growth was slower than the total income, which surged nearly 30 per cent to Rs 278 crore.
In Q3, the total revenue for the nation’s largest depository service provider climbed to Rs 298 crore, up from Rs 236 crore a year earlier.
In the previous quarter, the company had generated a revenue of Rs 359 crore.
CDSL serves as India’s leading depository for the electronic holding and transaction of securities, facilitating the settlement of trades on stock exchanges.
The number of Demat accounts in India has consistently risen, even during market volatility.
In the fiscal year 2023-24, over 3.26 crore new Demat accounts were opened, marking the highest quarterly registration.
Market analysts indicate that the growth in Demat accounts reflects sustained interest from retail investors in the stock market.
A Demat account is a digital account that securely holds securities such as stocks, bonds, mutual funds, and ETFs.
