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Drumbeat: Ad Buzzaar
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Thursday, June 4, 1998
NSE profits dip by 77 per cent
ENS ECONOMIC BUREAU
MUMBAI, June 3: The National Stock Exchange has witnessed a steep 76.87 per cent fall in its net profit for 1997-98. The exchange has recorded a net profit of Rs 5.37 crore as against Rs 20.49 crore in the previous year. It has for this reason cut dividend to 10 per cent from the previous year's figure of 15 per cent.The fall has been attributed to increase in expenditure due to increase in depreciation on additions and upgradations to the computer and telecom systems, increase in repairs and maintenance expenses and V-Sat shifting charges necessitated by snags in the satellite. The NSE has set a Rs 1 crore networth requirement for trading members of its index futures sub-segment of the derivatives segment, which would allow all existing members to be eligible for membership. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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