IPO-bound NSDL profit jumps 30% to ₹86 crore in Dec quarter

NSDL on Monday reported a 30% rise in its consolidated net profit to ₹85.8 crore for three months ended December 2024.

The depository registered a ₹66.09 crore profit in the year-ago period.

The total income rose 16.2% to ₹391.21 crore in the October-December quarter of the current financial year (FY25) against ₹336.67 crore in the same quarter preceding fiscal, NSDL said in a statement.

For the nine months ended December 2024, National Securities Depository Ltd (NSDL) posted a 32.6% year-on-year growth in net profit to ₹259.82 crore and a 13.3% year-on-year increase in total income to ₹1,141.4 crore.

NSDL is India's first securities depository to reach ₹500 lakh crore ($ 6 trillion) in value of assets held in custody in September 2024.

In October, NSDL received market regulator SEBI's go-ahead to launch an initial public offering (IPO).

The proposed IPO is a complete offer for sale (OFS) of more than 5.72 crore equity shares by shareholders, including National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank, as per the draft red herring prospectus (DRHP).

Since the public issue is completely an OFS, NSDL will not receive any proceeds from the IPO.

NSDL is a SEBI-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996.

This will become the country's second publicly traded depository to list on the bourses, after Central Depository Services (CDSL), which was listed on NSE in 2017.