New Delhi: The country's oldest stock exchange BSE, which is looking to go public soon, recorded total revenue of Rs 578.4 crore in the last fiscal, but more than half of this came from gains on investments, deposits, rental earnings and other income.
As per the exchange's annual report for 2011-12, its earnings from market transaction charges fell in the fiscal due to depressed overall market volumes, but this was compensated by gains realised from parking of funds in corporate bonds and other investment avenues.
Besides, the BSE also witnessed a significant increase in its other income from 'rent, maintenance and infrastructure charges' and from 'training institute.'
"During the year, the Exchange invested a part of its funds in long dated and high rated bonds and debentures of the corporates, both taxable and non-taxable.
"These initiatives resulted in the Exchange earning an income of Rs 268.27 crore from investments and deposits during the financial year 2011-12 as against Rs 227.42 crore in the previos year," BSE said.
The total consolidated revenue rose by 7.5 percent from Rs 538.06 crore to Rs 578.42 crore. Its profit for the year, however, fell from Rs 215.64 crore to Rs 178.13 crore.
Its consolidated expenses rose by 8.6 percent to Rs 248.32 crore, while it also incurred additional costs to the tune of Rs 60.49 crore related to a Liquidity Enhancement Scheme.
As per BSE's balance sheet for 2011-12, its income from long term investments included interest income of Rs 80.43 crore, dividend income of Rs 2.24 crore and profit on sale/redemtpion of Rs 31.39 crore from long-term investments.
From currrent investments, BSE earned interest income of Rs 2.69 crore, dividend of Rs 22.91 crore, profit on sale of Rs 1.66 crore and interest of Rs 126.12 crore from fixed deposits and term deposits.
BSE's 'other income' of Rs 40.84 crore for 2011-12 included Rs 16.59 crore from rent, maintenance and infrastructure charges and Rs 8.17 crore from training institute.
On the other hand, the income from transaction charges fell sharply from Rs 60.35 crore to Rs 37.63 crore.
The exchange has recently said that it is looking to get listed in the near future and the process would be started soon for the same. The exchange's listing plans are said to be being spearheaded by its interim CEO Ashishkumar Chauhan.
While the search process is on to appoint a full time CEO, a position that fell vacant after Madhu Kannan resigned to join Tata group, Chauhan himself is said to be among the frontrunners for the position.
As per BSE's annual report, Kannan as MD and CEO of the exchange in 2011-12 was paid a remuneration of close to Rs 1.7 crore, while Chauhan (then deputy CEO) was paid Rs 1.66 crore. Kannan's pay package fell from Rs 2.05 crore in the previous fiscal 2010-11.
First Published: Sunday, September 02, 2012, 14:12