48 lakh Demat accounts opened in India during July-September quarter: CDSL
Oct 25, 2022
New Delhi [India], October 25 : The consistent increase in the number of new dematerialised accounts in India indicates that people here are increasingly participating in stock markets.
As many as 48 lakh Demat accounts were opened in during the July-September quarter of the financial year 2022-23, Central Depository Services (India) (or CDSL), Asia's first and only listed depository, has said recently.
Notably, CDSL has become the first depository to register 7 crore Demat accounts in the month of August 2022.
Last week, the depository announced its audited consolidated and standalone financial results for the half-yearly year that ended September 30, 2022.
The consolidated total income of the depository rose 7 per cent year-on-year to Rs 316 crore, whereas net profit declined 8 per cent to Rs 138 crore during the first half of 2022-23 (April-September), data showed.
During the July-September quarter, total consolidated income rose 3 per cent year-on-year to Rs 170 crore, whereas net profit declined 7 per cent to Rs 80 crore.
"We are happy to present the performance of CDSL for the second quarter of this financial year, on the auspicious occasion of Dhanteras, the first day that marks the celebration of Diwali," said Nehal Vora, MD and CEO after the earnings.
"We at CDSL, in line with the spirit of Diwali, strive to empower the Niveshaks (i.e., Investors) through our services to help them transcend into an #AtmanirbharNiveshak (Self-sufficient investor). With this belief, we at CDSL wish to renew our commitment to providing convenient, dependable, and secured digital services."
The financial performance during the second quarter, Vora said, continued to be strengthened by the firm's sustainable long-term strategy of investing in the digital eco-systems and robust technology to provide all market participants with an easy and secure platform.
"Today using CDSL's services, the investors have the power to hold, operate and monitor their investments safely, from the comfort of their homes. Additionally, our services like e-AGM, e-voting, etc. empower the shareholders to connect with the companies conveniently," Vora added.
