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NSE FY19 net profit up 16.87 pc on higher revenues

Mumbai, May 17 () The National Stock Exchange Friday reported a 16.87 per cent jump in its consolidated net profit at Rs 1,708.04 crore for 2018-19 on rise in revenues and sale of an investment.

The bourse, which has plans of listing through an IPO, had reported a profit of Rs 1,461.47 crore in the year-ago period.

Its overall revenues surged to Rs 3,514.57 crore in 2018-19 from Rs 3,032.56 crore a year ago on increase in revenue from operations as well as other income.

NSE booked a profit of Rs 169.74 crore from sale of an investment in 2018-19, which aided the bottomline.

Overall expenses increased to Rs 1,215 crore from Rs 957.86 crore in the year-ago period on surge in employee benefits, depreciation and other expenses.

The exchange’s income tax surged to Rs 857.84 crore from the Rs 681.05 crore in the year-ago period, but deferred tax declined to Rs 10.33 crore from Rs 54.52 crore in 2017-18.

The company, which has been directed by Sebi to disgorge profits worth over Rs 1,000 crore in co-location case, has not made any provision for the same in 2018-19 accounts.

It, however, said that the amount set aside since September 2016, when the matter first came under the radar, now stands at over Rs 2,258 crore.

NSE’s overall reserves, excluding the one for revaluation, grew to Rs 7,737 crore from Rs 7,300 crore a year ago. AA AP RVK RVK

News credit : Indiatimes