Central Depository Services (India) Ltd (CDSL) saw its shares drop by 6.42% to ₹1,404 on the NSE as of 9:22 AM, despite reporting strong Q3 results. The decline is likely attributed to broader market sentiment, with key indices such as the Sensex, Nifty, Bank Nifty, and Midcap Nifty trading in the red during early hours.
For the December 2024 quarter, CDSL reported a 21.11% year-on-year increase in net profit to ₹130.10 crore compared to ₹107.42 crore in the same quarter last year. Sales grew by an impressive 29.67% YoY to ₹278.11 crore from ₹214.48 crore. However, the operating profit margin (OPM) dipped slightly to 57.7% from 60.82% in the prior period.
The overall market, including a 0.51% decline in the Sensex and a 1.61% drop in the Midcap Nifty as of 9:27 AM, appears to have dampened investor sentiment. Despite robust quarterly numbers, the bearish trend in the market may have weighed on CDSL’s stock performance.
Highlights for CDSL Q3 FY25:
Sales: ₹278.11 crore (+29.67% YoY)
Net Profit: ₹130.10 crore (+21.11% YoY)
PBT: ₹168.38 crore (+16% YoY)
PBDT: ₹181.35 crore (+19% YoY)
While the company’s financials reflect healthy growth, market-wide weakness appears to have offset the positive outlook, contributing to the decline in stock price.
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