NE BUSINESS BUREAU
MUMBAI, MAY 19
The Central Depository Services (India) Limited on Monday reported an 18 percent decline in its net profit to Rs 28.07 crore for three months ended March 2020.
In comparison, the company had reported a net profit of Rs 34.4 crore in the year-ago period, CDSL said in a press statement.
The company’s total income for the quarter ended March 31, 2020, increased by 6.5 percent to Rs 73 crore from Rs 68.5 crore in the same period last fiscal.
The company said it has taken a one-time charge for a non-recurring previous years’ anticipated statutory liability of Rs 10.56 crore.
Besides, the board of directors have recommended a dividend of Rs 4.50 per equity share. This is subject to the approval of the shareholders at the ensuing annual general meeting of the company.
For the entire fiscal 2019-20, the company posted a net profit of Rs 106.72 crore as compared to a net profit of Rs 115 crore in the preceding financial year.
Commenting on the results, Nehal Vora, Managing Director & Chief Executive Officer said, “The performance of the fiscal year 2019-20 is in tune with the consistent revenue growth as that of previous years and that is the representation of the strong year we have had at CDSL. We understand that universally the next few months will be challenging, but we are hopeful that we will emerge from this situation stronger. We will continue to provide convenient and secured services to all market participants and while doing the same, we hope to maintain our revenue growth in the fiscal year 2021-22 as well.”
