BSE profit rises 45 per cent to Rs 808 crore
The stock exchange reported growth in its equity derivatives segment despite the impact of a regulator's closing auction session.
BSE Ltd reported a 45 per cent rise in consolidated net profit to Rs 8.09 billion for the quarter ended September 30, according to Moneycontrol. The profit increased from the amount recorded in the same period a year earlier.
The company, which operates India's second-largest stock exchange, saw growth in its equity derivatives segment and the launch of more index derivatives contracts. This growth occurred alongside increased participation from brokers and foreign investors.
The Indian markets regulator introduced a closing auction session (CAS) in August to align markets with global standards. This measure impacted trading volume, particularly in the derivatives segment, though the regulator partially reversed the measure last month.
Average daily turnover in derivatives rose 50 per cent year-on-year but dropped 24 per cent from the preceding quarter. Analysts at Centrum Broking said the sector's index options premium turnover declined 27 per cent sequentially in the second quarter due to the CAS implementation, but rose 14 per cent year-on-year.