Zero-business DSE registers Rs 1.05cr profit

Confounding financial pundits, the moribund Delhi Stock Exchange (DSE) posted a net profit of Rs 1.05 crore during 2002-03 despite recording no business for most part of the year and making payments towards VRS. That compares well with a net loss of Rs 3.80 crore in the previous year.

The net profit during last fiscal was mainly due to high listing fees — now the sole bread-earner of the seven decades old bourse. Interestingly, the net income in 2002-03 increased 25-fold to Rs 3.84 crore as against a mere Rs 16 lakh during 2001-02, according to DSE annual report.

Listing fees, however, are not going to sustain the DSE any longer. ‘Due to issuance of delisting guidelines by Sebi as well as change in the regulatory policy doing away with mandatory listing at regional stock exchange, the requests for delisting have gone up significantly,” the report said.