NSDL Sees 30% Surge in Q3 Net Profit, Income Rises Over 16%
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Synopsis
The National Securities Depository Ltd (NSDL) has reported a significant 30% rise in its Q3 net profit to Rs 85.8 crore, reflecting robust growth. Total income surged by 16.2%, indicating strong financial performance in FY 2024-25.
Key Takeaways
- 30% increase in Q3 net profit to Rs 85.8 crore.
- Total income grew 16.2% to Rs 391.21 crore.
- NSDL made history with Rs 500 lakh crore in assets.
- IPO approved by SEBI for 5.72 crore equity shares.
- Demat accounts reached a record 185 million.
Mumbai, Feb 17 (NationPress) The National Securities Depository Ltd (NSDL) announced a remarkable 30 percent increase in its consolidated net profit, reaching Rs 85.8 crore for the October-December quarter of the financial year 2024-25 (Q3 FY25).
In the same timeframe last year (Q3 FY24), the profit stood at Rs 66.09 crore.
The depository also reported a total income growth of 16.2 percent, amounting to Rs 391.21 crore in Q3, compared to Rs 336.67 crore in the corresponding period of the previous financial year.
For the nine months concluding in December 2024, NSDL achieved a 32.6 percent year-on-year (YoY) growth in net profit, totaling Rs 259.82 crore.
The total income for this period increased by 13.3 percent, reaching Rs 1,141.4 crore, as stated by the company.
NSDL made headlines in September 2024 by becoming the first securities depository in India to manage assets worth Rs 500 lakh crore ($6 trillion) in custody.
In October 2024, NSDL secured approval from the Securities and Exchange Board of India (SEBI) to initiate its initial public offering (IPO). This IPO will consist of a complete offer for sale (OFS) of over 5.72 crore equity shares.
Major stakeholders, including National Stock Exchange (NSE), State Bank of India (SBI), and HDFC Bank, will be divesting their shares as per the draft red herring prospectus (DRHP).
IDBI Bank, holding nearly 26 percent stake, plans to sell up to 2.22 crore shares, while NSE, with a 24 percent stake, will offload up to 1.8 crore shares in the IPO.
Additionally, the total number of demat accounts surged to a record 185 million in 2024, marking an increase of approximately 46 million over the past year.
Data from NSDL and CDSL indicates that 2024 experienced a 33 percent increase in new demat accounts compared to 2023, bringing the total to 185.3 million.
