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Stock market major BSE on Monday reported a consolidated net profit of Rs 32.48 crore for the first quarter (Q1) of 2020-21.

On sequential basis, the company has reported a consolidated net loss of Rs 1.91 crore during the fourth quarter of last fiscal.

On standalone basis, the net profit for the quarter ended June 30, 2020 was up by Rs 30.75 crore to Rs 32.34 crore from Rs 1.59 crore in the previous quarter.

"The growth of turnover in equity segment by 39 per cent in this quarter over corresponding quarter previous year is highly encouraging. Coupled with the focus on "best price execution" of trades by trading members, the prospects for growth in equity segment in BSE also look brighter," Ashishkumar Chauhan, MD and CEO, BSE said in a statement.

"Introduction of e-KYC services in the mutual fund segment as a value added service as well as introduction of health and life insurance segment in the insurance broking entity demonstrates the relentless drive by BSE to provide more and better services to its stakeholders and public."

In addition, the company's Board in its meeting held on Monday has 'in-principle' approved exploration of the possibility of unlocking value in BSE's distribution business of 'StAR Mutual Fund' and appoint a merchant banker for the same.

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Free Press Journal