Central Depository Services (India) Limited (CDSL), one of India’s key securities depositories, announced its financial results for the quarter ended September 2025 on November 1st, 2025. The company reported a 13.6% year-on-year decline in consolidated net profit, standing at ₹140.21 crore compared to ₹162.02 crore in the same quarter last year. The company also saw a 1% dip in revenue from operations, which came in at ₹318.89 crore, slightly lower than ₹322.26 crore in the corresponding quarter of FY25.
Despite the yearly decline, CDSL showcased a notable quarter-on-quarter (QoQ) recovery, with net profit rising 37% sequentially from ₹102.37 crore in the June 2025 quarter. The company’s total income stood at ₹341.37 crore, a decrease from ₹358.51 crore in the previous year, but a clear improvement over ₹295.16 crore in the preceding quarter.
Financial Performance Overview
CDSL’s total expenses rose year-on-year to ₹157.41 crore, compared with ₹134.41 crore a year ago. The combination of slightly lower income and higher expenditure contributed to the decline in profit for the September quarter.
However, the sequential rebound highlights improving efficiency and resilience in CDSL’s operations amid a dynamic market environment. The company continues to play a vital role in maintaining transparency, stability, and trust in India’s capital market infrastructure.
A Key Player in India’s Securities Market
Established in 1999, CDSL serves as one of India’s two central securities depositories. Its core mission is to provide secure, dependable, and affordable depository services to all market participants. Acting as a custodian for investors’ holdings, it facilitates dematerialisation, settlement, and safekeeping of securities—including equities, bonds, and mutual funds.
As of 30 September 2025, CDSL maintained over 16.5 crore investor accounts (excluding closed accounts), underscoring its crucial position in India’s financial ecosystem and the growing participation of retail investors in the securities market.
Market Reaction
On the trading front, CDSL’s shares closed 1.5% lower at ₹1,591 on the NSE on Friday. While the market reflected mild caution over the year-on-year dip in profitability, the strong sequential performance may support confidence in the company’s operational momentum heading into the next quarter.
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Conclusion
While CDSL’s Q2 FY26 results reveal a modest decline in profit and revenue compared to last year, the 37% sequential growth in net profit reflects a clear recovery trajectory. With its strong foundation, extensive investor base, and commitment to secure depository operations, CDSL continues to be a pivotal institution in India’s capital markets.
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