CDSL Sees Q2 Net Profit Jump 48% To ₹162 Cr, Beats Street Estimates

CDSL reported its earnings for the quarter ended September on Saturday afternoon.

What Happened: The company’s consolidated net profit for the quarter under review came in at ₹162.02 crore, up 48% from the ₹108.85 crore posted in the same quarter last year. Revenue from operations came in at ₹322.26 crore, a 55% jump from the ₹205 crore posted in the corresponding quarter of the previous.

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The company’s numbers were ahead of Dalal Street estimates. Analysts pegged the company’s revenue to come in at ₹271 crore, with a net profit of ₹132 crore.

CDSL achieved a milestone as the first depository to register over 13.5 crore demat accounts as of September 30, 2024. In the July-September period, 1.18 crore new demat accounts were opened.

CDSL’s market share in demat accounts increased to 78% from 74% in September 2023. NSDL’s market share fell to 22% in September from 26% in the previous year.

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