BSE Ltd to consider share buyback proposal on July 6

BSE Buyback: Leading stock exchange BSE Ltd on Monday informed NSE that its board will consider a share buyback proposal on July 6.

BSE Buyback: Leading stock exchange BSE Ltd on Monday informed NSE that its board will consider a share buyback proposal on July 6. Image: Freepik/ Representational image

BSE Buyback: BSE, the leading stock exchange, said in its regulatory filing on Monday, July 3, that its board will consider a share buyback proposal on July 6. Following the update, the stock jumped over 4 per cent on the NSE to Rs 633.35.

In separate news, BSE informed that Sushri Kamala Kantharaj has been appointed as Chief Regulatory Officer of the company with effect from July 1, 2023, in place of Shri Neeraj Kulshrestha, who has resigned from his services with the company. Shri Khushro Bulsara has been appointed as Chief Risk Officer of the company with effect from July 1, 2023, in place of Sushri Kamala Kantharaj. Shri Kersi Tavadia, Chief Information Officer, is retiring on June 30, 2023. Shri Subhash Kelkar, Chief Technology Officer, has been re-designated as Chief Information Officer of the company with effect from July 1, 2023, the company said in its regulatory filing.

For the fourth quarter of the last fiscal (Q4FY23), the company reported a 24 per cent jump in net profit to Rs 88.61 crore. The exchange had posted a net profit of Rs 71.52 crore in the same quarter of the preceding fiscal, the BSE said in a regulatory filing to the National Stock Exchange (NSE).

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BSE’s revenue from operations grew 11 per cent to Rs 227.01 crore in the latest March quarter. The same was at Rs 204.59 crore in the year-ago period.

For 2022–23, the bourse’s net profit declined 16 per cent to Rs 205.65 crore from Rs 244.93 crore in the same period a year ago.

However, its revenue from operations rose 10 per cent to Rs 815.53 crore in FY23. In the year-ago period, the same stood at Rs 743.15 crore, according to a PTI report.

“FY2023 was a challenging but pivotal year for BSE. We made important progress regarding our priorities and have taken significant steps to improve our product profile. “As we move forward, there is a significant opportunity to continue to expand and evolve the products and services within our core business,” BSE MD and CEO Sundararaman Ramamurthy said.

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