CDSL shares see massive 11% plunge over subdued Q3 results; check details here

Shares of Central Depository Services Ltd. (CDSL) saw a sharp decline of up to 11% on Monday, January 27, after the company announced a subdued December quarter results over the weekend.

The fall in share price followed a 26.27% year-on-year (YoY) decline in total income for the December 2024 quarter (Q3 FY25), which stood at ₹298 crore, down from ₹236 crore in the same period last year. Despite this, CDSL reported a 21.49% YoY increase in net profit for the quarter, rising to ₹130 crore from ₹107 crore in the corresponding period last year.

Operating income for the December quarter totaled ₹221 crore, a decrease from ₹248 crore in the year-ago period.

The company's Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) took a significant hit, dropping 37% quarter-on-quarter (QoQ) to ₹146 crore, compared to ₹231 crore in the September 2024 quarter.

Net profit also saw a sharp fall, dropping 38% from the September quarter’s ₹171 crore to ₹105 crore in Q3 FY25.

CDSL's new demat account openings for the quarter stood at 92 lakh, a notable decline from the 1.18 crore accounts opened in the previous quarter. This marks the lowest number of new accounts opened since the December quarter of FY24.

As of the end of December, demat custody stood at ₹75 lakh crore, down from ₹78 lakh crore in the September quarter, as per CDSL's investor presentation.

On a sequential basis, total income and profit dropped by 16.99% and 19.75%, respectively, compared to the previous quarter.

Notably, CDSL achieved a milestone by becoming the first depository to register over 14.65 crore demat accounts as of December 31, 2024. In Q3 FY25, the company opened 92 lakh new demat accounts.

At the close of trading session today, CDSL's share price stood at ₹1344.60 a piece. The company’s market capitalisation stood at ₹28,651.81 crore.