Bombay Stock Exchange (BSE) recently announced that its net profit has declined by 16.46% to Rs.51.86 crore during the last quarter of FY18-19, which ended on 31 March 2019.
In a statement, the BSE said it had registered a consolidated net profit to the tune of Rs.62.08 crore during the fourth quarter of FY17-18. The statement also mentioned that the total income of the exchange reduced to Rs.182.08 crore during the period under review from Rs.195.34 crore in the year-ago period.
On a standalone basis, Bombay Stock Exchange registered a profit of around Rs.43.85 crore in the fourth quarter of the previous financial year, as against a profit of Rs.61.11 crore in the fourth quarter of FY18. For the whole of FY18-19, BSE’s consolidated net profit touched Rs.199.28 crore, while its standalone profit stood at Rs.201.05 crore.
Further, the exchange approved a dividend of Rs.30 per share of Rs.2 each, including an interim dividend of around Rs.5 per share that was paid in November 2018 for the financial year that ended on 31 March 2019. The dividend will be paid out, subject to the exchange receiving approval from the members of its 14th Annual General Meeting.
The BSE will also be buying back fully paid-up equity shares with a value of Rs.2 each at the price of Rs.680 per share via the tender offer route. The size of the buyback is not expected to exceed Rs.460 crore.
The exchange’s consolidated expenditure increased to a sum of Rs.130.66 crore during the fourth quarter of FY19 from Rs.123.61 crore in the corresponding period last year.
Source: Business Today, The Economic Times, The Times of India