CDSL Q2 PAT jumps 76% to Rs 86 crore

Leading depository CDSL on Monday reported a 76 per cent jump in profit after tax (PAT) to Rs 86.06 crore in three months ended September 2021.

In comparison, the depository had posted a PAT of Rs 48.87 crore in the same quarter preceding fiscal, Central Depository Services (India) Limited (CDSL) said in statement.

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Total income rose by 63 per cent to Rs 165.15 crore in the period under review from Rs 101.17 crore in the second quarter ended September 30, 2020.

The company said that 68 lakh demat accounts were opened in the second quarter of the current fiscal, making it the highest ever quarterly addition.

"The Indian capital markets also witnessed an unprecedent growth which was supported by participation of new investors in the markets, IPOs, etc... The ease of business and secured services focused on providing convenience to all investors remains the core reason of our growth," CDSL MD and CEO Nehal Vora said.

CDSL facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.

It maintains and services 4.64 demat accounts of investors or beneficial owners (BOs) spread across India. These BOs are serviced by CDSL's 591 depository participants from over 21,400 locations.

For the half year ended September 30, 2021, the depository's net profit climbed by 57 per cent to Rs 150.05 crore and total income grew by 58 per cent to Rs 294.95 crore.