India’s second largest depository by custody value and the largest by number of accounts, CDSL, reported a 68% jump in profit after tax at Rs.48.87 crore for the three months ended September 30, 2020. This was largely driven by a spurt in new demat accounts.
This is in contrast to the profit of Rs.29.06 crore in Sep-19 quarter. In the post COVID period, there has been a geometric rise in the number of demat accounts as young investors entered the market in a big way. Most of the new accounts have gone to CDSL.
For the Sep-20 quarter, CDSL reported total income at Rs.101 crore, a spurt of 46% on a yoy basis. Interestingly, just in the last 3 months, the number of new active beneficial ownership accounts with CDSL increased by 2.9 million to 2.61 crore in total.
CDSL currently operates through a network of 593 depository participants offering services across India from over 20,000 locations, in addition to its digital offerings. In the last 5 months, digitisation has proved to be the key to business growth and CDSL has proved that.
India’s second largest depository by custody value and the largest by number of accounts, CDSL, reported a 68% jump in profit after tax at Rs.48.87 crore for the three months ended September 30, 2020. This was largely driven by a spurt in new demat accounts.
This is in contrast to the profit of Rs.29.06 crore in Sep-19 quarter. In the post COVID period, there has been a geometric rise in the number of demat accounts as young investors entered the market in a big way. Most of the new accounts have gone to CDSL.
For the Sep-20 quarter, CDSL reported total income at Rs.101 crore, a spurt of 46% on a yoy basis. Interestingly, just in the last 3 months, the number of new active beneficial ownership accounts with CDSL increased by 2.9 million to 2.61 crore in total.
CDSL currently operates through a network of 593 depository participants offering services across India from over 20,000 locations, in addition to its digital offerings. In the last 5 months, digitisation has proved to be the key to business growth and CDSL has proved that.