Mumbai, January 26 (IANS). Central Depository Services Limited (CDSL)’s profit has increased by 21.5 per cent year-on-year to Rs 130 crore in Q3FY25. The company had made a profit of Rs 107 crore in the same period of the last financial year.
The country’s largest depository services company’s total income stood at Rs 298 crore in the October-December period, up from Rs 236 crore in Q3FY24.
CDSL announced that it has become the first depository to register more than 14.65 crore demat accounts by December 31, 2024. Around 92 lakh new demat accounts were opened during the October-December quarter of the current financial year.
CDSL is India’s leading depository for holding and transacting securities electronically. It also facilitates settlement of trades on stock exchanges.
A record 1.09 crore demat accounts were registered with CDSL in the January-March 2024 quarter. With this, the total number of demat accounts reached 11.56 crore. The number of demat accounts is continuously increasing in India. More than 3.26 crore new demat accounts were opened during the financial year 2023-24.
The growth in demat accounts is indicative of retail investors’ continued interest in the stock market.
Demat is a digital account in which securities like stocks, bonds, mutual funds and ETFs are held. It is similar to a bank account, but instead of money, financial securities are kept in it.
The advantage of a Demat account is that it is secure and there is no risk of theft or fraud. It is also convenient as one can open a demat account online and access it through the mobile app or netbanking.
–IANS
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