Shares of Central Depository Services Ltd. (CDSL) are down as much as 9% on Monday, January 27, after the company reported its December quarter results over the weekend.
Operating income for CDSL at the end of the December quarter stood at ₹221 crore, which was lower than the ₹248 crore it reported during the same quarter last year.
CDSL’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) fell by 37% from the September quarter to ₹146 crore. The company’s EBITDA in the previous quarter stood at ₹231 crore.
Net profit for the period fell to ₹105 crore, which is also a 38% drop from the September quarter figure of ₹171 crore.
Net new accounts opened during the quarter stood at 92 lakh, in comparison to 1.18 crore accounts opened during the September quarter. This is the lowest number of new accounts opened since the December quarter of financial year 2024.
Demat custody at the end of the December quarter stood at ₹75 lakh crore, down from ₹78 lakh crore in September, CDSL’s investor presentation said.
Out of the 10 analysts that have coverage on CDSL, six of them have a “hold” rating on the stock, while two analysts each have a “buy” and “sell” rating on the stock.
Shares of CDSL are currently trading 8% lower at ₹1,381.8. The stock is down 30% from its recent peak of ₹1,989.
