CDSL SHARES AT RECORD HIGH AFTER Q4 PROFIT DOUBLES; SPECIAL DIVIDEND ANNOUNCED

Shares of Central Depository Services India Ltd. (CDSL) surged as much as 6% on Monday to hit a record high after its March quarter results, post which, it also announced a special dividend on the occasion of it completing 25 years in business.

CDSL's consolidated net profit for financial year 2024 increased by 52% from financial year 2023. For the March quarter, the consolidated net profit doubled to ₹129 crore.

Total income for the quarter also increased by 86% from last year to ₹267 crore. For the full year, total income increased by 46% year-on-year.

The board additionally recommended a final dividend of ₹19 per equity share for FY24, subject to shareholder approval. It also declared a special dividend worth ₹3 per share, taking the full year payout to ₹22 per share.

As of March 31, 2024, CDSL had over 11.56 crore demat accounts, adding 3.26 crore new demat accounts in financial year 2024. Of that number, nearly one-third or 1.09 crore were added in the January-March quarter itself. This was the highest quarterly registration of demat accounts in CDSL's history.

With Monday's surge, CDSL's market capitalisation has also crossed the mark of ₹22,500 crore. It had crossed the mark of ₹20,000 crore on April 12 this year. The stock had risen 23% in April, after a 11% drop in March.

Shares of CDSL are trading 3.7% higher at ₹2,155.5, having made a new record high of ₹2,199.9. The stock, so far, is up 18% in 2024, while over the last 12 months, CDSL's shares have returned over 110% to shareholders.

2024-05-06T06:27:32Z dg43tfdfdgfd