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August 2017
Stock
market major BSE on Thursday reported an exponential rise of 1,098 per cent in
its consolidated net profit for the first quarter (Q1) of 2017-18 due to
addition of exceptional items.
According
to the company, the Q1 consolidated net profit increased to Rs 523.70 crore
from Rs 43.70 crore reported for the Q1FY17. The Total Investment & Insurance Solutions
"The
parent company has partially divested its stake in a subsidiary company on June
29, 2017. The divestment has resulted in a loss of control and therefore the
profit on sale of the investment in the subsidiary amounting to Rs 45,118 lakh
has been credited to the consolidated financial results during quarter ended
June 30, 2017," the company said in a regulatory filing.
"Further,
the parent company had partially divested its stake in the above subsidiary in
October 2016 which did not result in a loss of control and hence the profit on
divestment amounting to Rs 1,057 lakh was credited to retained earnings under
the head 'Other Equity' during the year ended March 31, 2017. The said profit
of Rs 1,057 lakh has now been credited to the consolidated financial results
during quarter ended June 30, 2017." The Total Investment & Insurance Solutions
BSE's
consolidated total income during the quarter under review increased by 11 per
cent to Rs 158.38 crore from Rs 142.73 crore in Q1FY17. The Total Investment & Insurance Solutions
Besides,
its revenue from operations was up 26 per cent at Rs 102.64 crore from Rs 81.21
crore in Q1FY17. The Total Investment
& Insurance Solutions
The
firm's EBITDA (earnings before interest, taxes, depreciation and amortisation)
increased by 16 per cent to Rs 71.61 crore from Rs 61.76 crore. The Total Investment & Insurance
Solutions
"BSE
aims to grow both organically and inorganically... Our international exchange
continues to get attraction from investors and we are focused on achieving the
target of enabling Indian firms to compete on equal footing with offshore
firms," said Ashishkumar Chauhan, MD and CEO of BSE.
"As
a strategy, BSE strives to obtain leadership position in newer opportunities
while consolidating and improving its market share in areas where it is at a
competitive disadvantage."The
Total Investment & Insurance Solutions
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