BSE Q4 Review - Strong Operations Led By Increased Market Activity: Motilal Oswal
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Motilal Oswal Report
Bombay Stock Exchange Ltd. reported operational revenue growth of 24% YoY in Q4 FY21.
Growth was led by a 117% YoY increase in equity transaction charges; this was partially offset by revenue decline in Star Mutual Fund on moderation in realisation on the platform.
Overall strong market activity led to an 86%/17% YoY increase in transaction charges/services to corporates.
A robust increase in margins was the function of operating leverage in the business.
The management’s decision to explore options to unlock value from its Star MF segment is encouraging; however, no bids have been accepted thus far.
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