NSDL Shares Fall Nearly 5% After Q1 Revenue Slips

National Securities Depository Ltd.'s share price fell nearly 5% during early trade on Wednesday as its first-quarter revenue slipped.

Consolidated revenue decreased 14% sequentially for the three months ended June, reaching Rs 312 crore, as per results disclosed after market hours on Tuesday. Depository revenue fell 3% QoQ but rose 19% year-on-year.

Lower expenses allowed net profit to grow 8% to Rs 89.6 crore, as against Rs 83.3 crore in the preceding quarter of the last fiscal year.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 4% quarter-on-quarter to Rs 95.17 crore. The Ebitda margin expanded to 30.5% from 25.1% in the previous quarter.

NSDL's only rival, Central Depository Services (India) Ltd., had reported a 15% revenue growth and 19.3% expansion in Ebitda in Q1.

NSDL shares declined as much as 4.9% to Rs 1,226 apiece on the BSE. The benchmark Sensex was up 0.3%

The stock has risen 33% since its listing last week. The current market cap stands at Rs 24,839 crore.