NSDL Q3 Profit Up 4%, Margins Expand Sharply Despite Flat Revenue

• National Securities Depository Ltd (NSDL) reported a 4.4% year-on-year increase in net profit to ₹89.6 crore for the December quarter.
• Revenue for the quarter remained broadly flat, slipping marginally by 0.8% to ₹359.6 crore.
• Operating performance improved significantly, with EBITDA jumping 18.5% year-on-year to ₹107.4 crore.
• Operating margins expanded sharply to 29.9% from 25% in the year-ago quarter, driven by better cost control.
• NSDL shares closed 2.65% higher at ₹1,011.85 on the NSE ahead of the earnings announcement.

Why It Matters: NSDL's Q3 profit rose 4% and margins expanded due to cost control, despite flat revenue.