India's oldest bourse, BSE Ltd.'s net profit rose 3.5% in the second quarter of this financial year.
The stock exchange posted a net profit of Rs 558 crore for the second quarter of the fiscal year. This compared to Rs 539 crore in the preceding quarter.
The Ebitda of the bourse saw a 10.5% uptick this quarter as it rose to Rs 691 crore this quarter compared to Rs 625 crore in the preceding quarter.
The margin saw a marginal pull-back as the Ebitda margin for this quarter stood at 64.7%, compared to 65.3% in the previous quarter.
BSE Q2 Highlights (Consolidated, QoQ)
Revenue up 11.5% to Rs 1,068 crore versus Rs 958 crore.
Ebitda up 10.5% to Rs 691 crore versus Rs 625 crore.
Margin to 64.7% versus 65.3%.
Net Profit up 3.5% to Rs 558 crore versus Rs 539 crore.
BSE stock rose/fell as much as 1.50% during the day to Rs 2,664.8 apiece on the NSE. It closed 0.72% higher at Rs 2,644 apiece, compared to an 0.47% advance in the benchmark Nifty 50 at close on Tuesday. It has risen 71.58% in the last 12 months and 48.96% on a year-to-date basis.
Eleven out of the 15 analysts tracking the company have a 'buy' rating on the stock, four recommend a 'hold' and one suggest a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 2,97.08, implying a downside of 1.8%.
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