BSE Ltd's Q1 FY20 net profit dips 20 pc year-on-year
Mumbai (Maharashtra) [India], Aug 2 (ANI): BSE Limited (earlier known as Bombay Stock Exchange) on Friday posted a decline in its net profit by 20 per cent at Rs 41 crore as against Rs 52 crore in the same quarter last fiscal.
ANI
Aug 02, 2019 17:03 IST
Mumbai (Maharashtra) [India], Aug 2 (ANI): BSE Limited (earlier known as Bombay Stock Exchange) on Friday posted a decline in its net profit by 20 per cent at Rs 41 crore as against Rs 52 crore in the same quarter last fiscal.
Revenue of the company also dipped by 3 per cent at Rs 112 crore in Q1 FY20 as compared to Rs 116 crore in Q1 FY19.
BSE paid a final dividend of Rs 25 per equity share of the face value of Rs 2 each on July 17. After taking into account the interim dividend of Rs 5 per equity share paid in December 2018, the total dividend paid for the financial year works out to Rs 30 per equity share with a face value of Rs 2 each. The dividend payout ratio for financial year 2018-19 was 97 per cent.
BSE also proposes to buyback 67.65 lakh fully paid-up equity shares of Rs 2 each at Rs 680 per equity share through tender offer route. The number of shares proposed to be bought back represents 13.06 per cent of the total paid-up equity capital.
The total amount of buyback size will be about Rs 460 crore. The buyback offer size represents 24.73 per cent of the aggregate of the total paid-up capital and free reserves of the company based on standalone audited financial statements as on March 31.
BSE has already filed a draft letter of offer and is in process of providing certain additional documents and information as required.
BSE's Managing Director and CEO Ashishkumar Chauhan said the company will continue to focus on strengthening current business activities and grow its revenue base.
"Inter-operability has been implemented recently. Some of the newer business have also started contributing to the revenues significantly. StAR MF platform's achieving contribution of 11 per cent to the revenue from operations in a short period of past two years is a demonstration of the success of BSE's strategy to focus and grow by expanding into segments other than equity and into distribution activities," he said in a statement. (ANI)
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