On Monday, National Securities Depository Ltd (NSDL) announced a remarkable 30% increase in its consolidated net profit, reaching ₹85.8 crore for the quarter ending December 2024. This is a substantial rise from the ₹66.09 crore profit reported in the same period last year.
The depository also highlighted a 16.2% growth in total income, which surged to ₹391.21 crore during the October-December quarter of the current financial year (FY25), compared to ₹336.67 crore in the corresponding quarter of the previous fiscal year.
For the nine-month period ending December 2024, NSDL achieved a significant year-on-year growth of 32.6% in net profit, totaling ₹259.82 crore. Additionally, the total income for the nine months saw a 13.3% increase year-on-year, amounting to ₹1,141.4 crore.
In a notable milestone, NSDL has become India’s first securities depository to surpass ₹500 lakh crore (approximately $6 trillion) in value of assets held in custody as of September 2024.
In October, NSDL received approval from the market regulator SEBI to proceed with an initial public offering (IPO). The upcoming IPO will be a complete offer for sale (OFS) of more than 5.72 crore equity shares by existing shareholders, including prominent entities such as the National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank, as outlined in the draft red herring prospectus (DRHP). It is important to note that since the public issue is entirely an OFS, NSDL will not be retaining any proceeds from the IPO.
Founded following the implementation of the Depositories Act in 1996, NSDL played a pioneering role in the dematerialisation of securities in India, launching its services in November 1996. This move positions NSDL to become the country’s second publicly traded depository, following Central Depository Services (CDSL), which was listed on the NSE in 2017.
With its diverse range of products and services, NSDL continues to play a crucial role in the financial and securities markets in India.