BSE (BSE) Q2 24/25 earnings summary

Executive summary

• Achieved record half-year revenue and profit, with H1 FY25 consolidated revenue at Rs. 14,933 million and net profit at Rs. 6,102 million, driven by strong market sentiment, robust trading volumes, and product innovation.

• Celebrated 150 years, with a market capitalization of $5.72 trillion and over 192 million registered investors.

• Board approved unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2024, and the sale of 100% stake in BSE Institute Limited, pending regulatory approvals.

• The business spans equity, debt, derivatives, mutual funds, and international financial services.

• Landmark IPOs, including Hyundai Motor India, and a robust listing pipeline reinforced market leadership.

Financial highlights

• Consolidated quarterly revenue reached INR 819 crores, up 123% year-over-year; H1 FY25 consolidated revenue was Rs. 14,933 million, up from Rs. 6,381 million in H1 FY24.

• Net profit attributable to shareholders increased 188% to INR 346.8 crores; H1 FY25 net profit was Rs. 6,102 million, up from Rs. 1,908 million in H1 FY24 (excluding exceptional items).

• Operational revenues grew 137% to INR 746.3 crores; transaction charges rose 284% to INR 507.1 crores.

• Operating EBITDA margin surpassed 50% for the first time, reaching 52% in Q2 FY25 and 50% in H1 FY25.

• Dividend payout ratio consistently above 90% in recent years, with Rs. 2,060 million paid in FY24.

Outlook and guidance

• Continued investment in technology and infrastructure, including a new data center expected by year-end.

• Focus on expanding product offerings, digital and platform services, and deepening market participation.

• Ongoing regulatory changes may impact derivatives volumes but are expected to enhance market efficiency.

• Divestment of BSE Institute Limited is expected to be completed soon, with disclosure as per SEBI requirements.

• Continued innovation and product launches expected to drive growth.