BSE · Financial Services
BSE Ltd. reported total income of ₹1,068 cr for July to September 2025, +31.4% on the year and +11.5% on the quarter. It is the highest quarterly income in the last 10 quarters on record. Over the last four quarters income comes to ₹3,641 cr, +53.0% on the four before.
Net profit was ₹557 cr, +61.0% on the year and +3.5% on the quarter, with earnings per share of ₹13.75. The tax rate of 25% is in line with its recent average. Profit over the last four quarters totals ₹1,808 cr, +119.7% on the four before.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders), Net interest income against profit (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹362 cr | ₹426 cr | ₹539 cr | ₹602 cr | ₹813 cr | ₹768 cr | ₹847 cr | ₹958 cr | ₹1,068 cr | ₹1,244 cr | ₹1,564 cr | ₹1,566 cr |
| YoY | — | — | — | +132% | +125% | +80% | +57% | +59% | +31% | +62% | +85% | +63% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 35% | 26% | 30% | 24% | 24% | 24% | 25% | 25% | 25% | 25% | 25% | 25% |
| Net profit | ₹118 cr | ₹106 cr | ₹107 cr | ₹264 cr | ₹346 cr | ₹219 cr | ₹494 cr | ₹538 cr | ₹557 cr | ₹597 cr | ₹795 cr | ₹873 cr |
| YoY | — | — | — | −40% | +193% | +107% | +362% | +104% | +61% | +173% | +61% | +62% |
| EPS | ₹2.97 | ₹2.66 | ₹2.64 | ₹6.53 | ₹8.54 | ₹5.41 | ₹12.17 | ₹13.28 | ₹13.75 | ₹14.82 | ₹19.55 | ₹21.43 |
| Flags | · | · | · | ✓ | 1 | 2 | 2 | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
BSE Ltd. reported total income of ₹1,068 cr (+31.4% on the year) and net profit of ₹557 cr (+61.0% on the year) for July to September 2025.
None of the 2 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.