Representative image
Representative image

Leading depository CDSL on Monday reported an 84 percent jump in profit after tax at Rs 51.64 crore in the three months ended March 2021.

It had posted a profit after tax of Rs 28.14 crore in the same quarter preceding fiscal, the Central Depository Services (India) Ltd (CDSL) said in a statement.

Total income rose to Rs 110.25 in the quarter under review from Rs 72.98 crore in the January-March quarter of the 2019-20.

For the full year ended March 31, 2021, the depository registered an 89 per cent increase in profit after at Rs 201.27 crore. The same stood at Rs 106.72 crore in 2019-20.

Total income in 2020-21 climbed 41 percent to Rs 400.63 crore from Rs 284.25 crore in the preceding fiscal.

The company's board has recommended a final dividend of Rs 9 per equity share.

During the last financial year, 1.23 crore new active beneficial owners accounts were opened with CDSL taking the total number of such accounts to 3.34 crore.

MD and CEO Nehal Vora said, "the strengthened and robust revenues have exceeded the high-end of our expectations, demonstrating strength of the digital services during the current difficult times and a solid execution of the capital market growth strategy by the regulators, board of directors, management, and the employees of the organisation".

CDSL, which allows investors to deposit securities by opening an account in an electronic form (dematerialised), gets its revenues from transaction charges, account maintenance charges and settlement charges paid by depository participants. It also receives annual fees, corporate action and e-voting charges paid by companies whose securities are admitted in the depository's system.

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Free Press Journal