NSDL reports 30 pc rise in Q3 net profit, total income grows over 16 pc

Mumbai: The National Securities Depository Ltd (NSDL) on Monday reported a 30 per cent increase in its consolidated net profit at Rs 85.8 crore for the October-December quarter of the financial year 2024-25 (Q3 FY25).

In the same period last year (Q3 FY24), the company posted a net profit of Rs 66.09 crore.

The depository’s total income also saw growth of 16.2 per cent to Rs 391.21 crore in Q3, according to its filing. In comparison, the total income in the corresponding quarter of the previous financial year stood at Rs 336.67 crore.

For the nine months ending December 2024, the NSDL recorded a 32.6 per cent year-on-year (YoY) growth in net profit at Rs 259.82 crore.

The total income for the same period grew by 13.3 per cent to Rs 1,141.4 crore, the company said.

The NSDL made history in September 2024 by becoming India’s first securities depository to hold assets worth Rs 500 lakh crore ($6 trillion) in custody.

In October 2024, the NSDL received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The proposed IPO is a complete offer for sale (OFS) of over 5.72 crore equity shares.

Key shareholders, including the National Stock Exchange (NSE), State Bank of India (SBI), and HDFC Bank, will be offloading their stakes as per the draft red herring prospectus (DRHP).

The IDBI Bank, which holds a nearly 26 per cent stake, will sell up to 2.22 crore shares, while the NSE which has a 24 per cent stake in the depository firm, will sell up to 1.8 crore shares in the IPO.

Meanwhile, the number of total demat accounts increased to a record 185 million in 2024 by increasing around 46 million over the last one-year period.

According to the NSDL and CDSL data, 2024 saw a 33 per cent increase in new demat accounts compared to 2023, taking the total number of demat accounts to 185.3 million.

–IANS