HDFC Securities: BSE Posts Strong Operational Q2 Performance
HDFC Securities: BSE Posts Strong Operational Q2 Performance
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HDFC Securities Report
Bombay Stock Exchange Ltd. posted better-than-expected revenue and operational performance.
Revenue growth of 21.5/15.2% QoQ/YoY was led by improvement in core revenue (cash transaction up 51.8% QoQ) and higher listing fee (up 20.7% QoQ).
Ebitda margin improved to 17.8% versus down 7.8% QoQ (highest in the past nine quarters) due to the rise in revenue and a decline in fixed cost (down 7.2% QoQ).
The Star Mutual Fund platform witnessed strong growth (up 67% YoY), but the fall in realisation impacted revenue in Q2, which should normalise from Q3 onwards.
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