The BSE on Friday reported a 19.8 per cent decline in consolidated net profit to Rs 41.3 crore for the quarter ended June 30, mainly on higher expenses.
The bourse had posted a net profit of Rs 51.5 crore for the corresponding period of the previous year, the BSE said in a filing to the National Stock Exchange (NSE). Its total income was marginally up at Rs 166 crore, compared with Rs 164.20 crore in the June 2018 quarter. Total expenses were higher at Rs 119.10 crore, against Rs 108.69 crore in the year-ago period.
On a standalone basis, the stock exchange reported a profit of Rs 34.4 crore, down from Rs 51.8 crore during the quarter ended June 30. The exchange said it proposes to buy back 67.65 lakh fully paid-up equity shares of Rs 2 each at Rs 680 per equity share through the tender offer route.
The number of shares proposed to be bought back represents 13.06 per cent of the company’s total paid-up equity capital. The total size of buyback will be a maximum of Rs 460 crore.
BSE Managing Director and Chief Executive Officer Ashishkumar Chauhan said, “(The company) would continue to focus on strengthening current business activities and new initiatives to monetise each such initiatives appropriately at opportune times and grow its revenue base.”