BSE’s total income up in Q3; net profit dips slightly
09 Dec 2009
The Bombay Stock Exchange has posted a marginally lower net profit of Rs55.48 crore in the third quarter of financial year 2010, compared to Rs57.77 crore in same period last year.
The exchange's total income, however, jumped to Rs140.48 crore in the quarter against Rs103.57 crore in the same period last fiscal, BSE said in a release from Mumbai. The exchange has also registered a higher average daily turnover of Rs6,024 crore in the third quarter against Rs5,186 crore in the same period last year, it added.
In the first half of fiscal 2010, its profit fell to Rs112.75 crore against Rs116.74 crore in the same period last year.
The total income of the exchange rose from Rs 214.46 crore in H1 financial 2009 to Rs256.20 crore in H1 financial 2010.
The average daily turnover jumped to Rs6,197 crore in H1 FY'10, against Rs 5,461 crore in the same period last year.
The firm operates only in one segment - facilitating trading in securities and other related ancillary services.
The exchange has incurred computer technology related expenses of Rs21.75 crore in the third quarter and Rs32.82 crore in H1 FY'10 compared to Rs 10.75 crore and Rs 21.14 crore, respectively.
Computer technology-related expenses includes Rs10.71 crore as technical fee paid in advance by the exchange to an overseas software vendor for improvements in the trading, clearing and settlement systems of the exchange. The amount has been charged-off after adjusting Rs1.69 crore refunded by the software vendor, upon termination of the contract, the BSE said.