CDSL shares plummet 9% after reporting significant decline in Q3 earnings
Shares of Central Depository Services (India) Ltd (CDSL) tumbled 8.58 per cent to ₹1,371.55 on the NSE at 10.46 AM on Monday after the company announced its results for the quarter ended on December 31, 2024.
CDSL’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) plummeted 37 per cent to ₹146 crore in the December quarter compared to ₹231 crore in the preceding quarter.
Net profit also witnessed a sharp decline of 38 per cent, falling to ₹105 crore from ₹171 crore in the September quarter.
The company added 92 lakh new accounts during the quarter, a significant drop from the 1.18 crore accounts added in the previous quarter. This marks the lowest new account addition since the December quarter of FY2024. The slowdown in new account growth may indicate a cooling in investor enthusiasm or changing market conditions.
Demat custody at the end of the December quarter stood at ₹75 lakh crore, a slight decrease from ₹78 lakh crore in the September quarter.
The stock hit a 52-week high of ₹1,989.80 on December 17, 2024 and low of ₹811.00 on March 20, 2024 on the BSE.
