BSE Q3 net profit drops 17 per cent to Rs 64-crore

New Delhi: Leading stock exchange BSE has reported a 17 per cent decline in consolidate net profit to Rs 63.73 crore in the October-December quarter of the current fiscal.

The exchange had posted a net profit of Rs 76.73 crore in the third quarter ended December 31, 2015-16, latest update available with BSE (formerly known as Bombay Stock Exchange) website showed.

However, total income increased to Rs 174.72 crore in the third quarter, from Rs 160.56 crore in the same period a year ago. Overall expenses rose to Rs 112.36 crore in the quarter under review, from Rs 97.78 crore in the same period last fiscal, mainly due to employees, computer technology and administration related spending.

Employee costs surged by 21 per cent to Rs 32.46 crore. The exchange's group firms include CDSL, Indian Clearing Corporation, BSE Institute and BSE Investments.

On a standalone basis, BSE's net profit rose to Rs 70.07 crore during the quarter under review, from Rs 32.37 crore in the year-ago period. The exchange's total income grew to Rs 122.56 crore from Rs 108.53 crore.

Earlier this month, BSE got listed on the rival NSE platform, becoming the first stock exchange to go public. Shares of BSE were trading at Rs 998.85 apiece on the NSE today, down 0.51 per cent from the previous close.