Published On: Sat, Feb 6th, 2010

Unaudited Financial Results of Bombay Stock Exchange (BSE)

The Unaudited Financial Results of the Bombay Stock Exchange Ltd. (BSE) for the quarter ended 31st December, 2009 reported a top line growth of 17% (Q-o-Q) and was Rs 119.21 crores for the quarter ended 31st December, 2009.

Average Daily Turnover (ADT) during the quarter for the Cash Segment was Rs. 5,201 crores, registering a growth of 38% (Q-o-Q). The increase in the top line was mainly on account of increase in the income from Trading Members and Services to Corporates. Income from Investment & Deposits includes estimated amount of Rs. 14.3 crores, earned on Deposits / Margins received from the Trading Members, Clearing Banks, etc.

On the expenditure side, the total expenditure grew by 24% (Q-o-Q) and was Rs 47.90 crores for the quarter ended 31st December 2009. The Increase in expenditure was mainly on account of employee cost. BSE recognised the need to reward and retain talent and bring salaries in line with market levels.
Profit Before Tax (PBT) grew by 12% (Q-o-Q) to Rs 71.31 crores and Profit After Tax (PAT) grew by 17% and was Rs. 55.42 crores.

Income for the period ended 31st December, 2009 was Rs. 375.40 crores and grew by 19% as compared to the nine months ended 31st December, 2008. PBT for the nine months ended 31st December, 2009 was Rs. 232.46 crores, an increase of 16% over the corresponding nine months.
Significant developments during the recent past:
a. BSE made strategic investment in United Stock Exchange of India Limited, one of the upcoming exchanges in the country in financial derivatives to reposition itself in Currency Derivative and Interest Rate Derivatives segment.
b. BSE acquired Marketplace Technologies Private Limited (100% equity stake) to strengthen its technology platform and to provide to the trading members, more user- friendly and faster technology, leading to increase in the trading volumes.
c. BSE capitalized its wholly owned subsidiary, Indian Clearing Corporation Limited (ICCL) to the extent of Rs. 50 Crores, to enable it to settle trades of Mutual Funds, Corporate Debt Segment and to act as clearing corporation for United Stock Exchange of India Limited for the trades in Currency and Interest Rates Derivatives. In early December 2009, ICCL also started offering Secured Settlement of Corporate Bond transactions.
d. In order to increase liquidity, BSE has revised its Transaction Charges for both the Cash and F&O Segments by introducing different rates for passive and active orders.
e. To encourage retail participation in Mutual Fund, BSE launched Platform for Allotment and Redemption of Mutual Fund units (BSE StAR MF), on 4th December 2009.
f. BSE has launched a new website to disseminate data on the capital market related activities in the PSU space.

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