National Securities Depository Ltd.'s profit was up 9% at Rs 98.2 crore in the first quarter of this fiscal. This is in comparison to profit of Rs 90.1 crore in the previous quarter, according to its stock exchange notification on Thursday.
Consolidate revenue of the securities depository advanced by 12.7% quarter-on-quarter for the three months ended June, reaching Rs 517 crore in comparison to Rs 458 crore. Operating income, or earnings before interest and taxes fell 2.9% quarter-on-quarter to Rs 101 crore. The margin contracted to 19.2% from the earlier 22.7% in the previous quarter.
NSDL Q1 Result Highlights (Cons, QoQ)
- Net Profit rises 9% at Rs 98.2 crore versus Rs 90.1 crore.
- Revenue rises 12.7% at Rs 517 crore versus Rs 458 crore.
- EBITDA down 2.9% at Rs 101 crore versus Rs 104 crore.
- EBITDA Margin at 19.5% versus 22.7%.
Incorporated in 1996, NSDL operates as one of India's two depositories. The company's main competitor is Central Depository Services Ltd. (CDSL).
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NSDL Share Price Today
The results were announced after market close. NSDL shares closed 0.41% lower at Rs 823.30 per share on Thursday. Out of three analysts tracking the company, one maintains a 'buy' rating, one recommends a 'hold,' and one suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target of Rs 1,146.67 implies an upside of 5.4%.
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