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Market Infrastructure Institution Central Depository Services (India) Limited (CDSL) reported a 24% year-on-year boost in net revenue to 173.9 crore for the 2nd quarter, compared to 140.2 crore in the matching quarter in 2015.
Income increased 23.7% to 395 crore from 319 crore in the year-ago duration. Incomes Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at 229 crore, while EBITDA margin enhanced to 58% from 56% a year back.Discussing the outcomes, Nehal Vora, Managing Director & & Chief Executive Officer, stated, “Despite worldwide macroeconomic volatility, involvement in India’s securities market continues to show durability. CDSL’s demat account base grew by around 17% year-on-year since completion of Q2.”
He added that this continued growth in market participation drives them to further strengthen their operations and value proposition.
Demat accounts and assets under custody
During the quarter, around 75 lakh new demat accounts were opened with CDSL, as per the company. Its assets under custody (AUC) crossed ₹89 lakh crore.
The company’s demat account base grew around 17% year-on-year as of the end of Q2, Managing Director and CEO Nehal Vora said.
Strategic investments and partnerships
During the quarter, CDSL made further investments in India International Bullion Holding IFSC Limited (IIBHL), with the objective of supporting IT infrastructure development, among other areas.
The company also made a strategic investment in the Open Network for Digital Commerce (ONDC), an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
CDSL said that its subsidiary Centrico Insurance Repository Limited entered into a software development partnership agreement with Shoveltech Solutions Private Limited, which operates in the health-tech domain.
Investor education initiatives
CDSL’s Investor Protection Fund (IPF) launched a multilingual investor education film with Amar Chitra Katha, based on its ‘The Garden of Prosperity’ comic, which is available in 12 languages.
In collaboration with Yuva Unstoppable, CDSL IPF began distributing its investor education comics to nearly 21,000 students across 60 schools. It also launched ‘Invest Vidya’, an investor education YouTube series.
The investor protection fund conducted over 700 investor awareness programmes across India during the quarter.
Shares of Central Depository Services (India) Ltd (CDSL) ended 1.48% lower at ₹1,263 on the NSE on October 30.
Also Read: Sarda Energy Q2: Net earnings falls 5%, earnings decreases 5%; EBITDA margin enhances
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