CDSL Q4 result, Net profit doubles to Rs 129 cr in Q4

The depository sector CDSL has reported net profit doubled to Rs 129 crore for the three months ended March 2024. Reportedly, it posted a net profit of Rs 63 crore in the same quarter a year ago, Central Depository Services (India) Ltd (CDSL) said in a statement.

For the entire financial year 2023-24, the depository recorded a net profit of Rs 420 crore, marking a surge of 52 percent from the preceding year. Total income stood at Rs 907 crore in FY24, a growth of 46 percent.

Total income increased by 86% to Rs 267 crore in the March quarter of 2023-24, up from Rs 144 crore in the corresponding period last year.

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The board also recommended a final dividend of Rs 19 per equity share for FY24, subject to approval of shareholders. Additionally, a special dividend of Rs 3 per equity share is recommended, making the total dividend payout to Rs 22 per equity share. This is subject to the approval of shareholders.

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The largest depository in India, Central Depository Services Limited, has recently registered a record-breaking 1.09 crore Demat accounts in the quarter that ended March 2024, bringing the overall number of registered Demat accounts to over 11.56 crore. During the fiscal year 2023-24, more than 3.26 crore new Demat accounts were opened, with the highest quarterly registration of Demats in CDSL's history occurring in the quarter that just ended.

CDSL facilitates holding and transacting in securities in the electronic form and settlement of trades on stock exchanges.

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