Shares of Central Depository Services Ltd. (CDSL) rose more than 6% during Monday’s trading session after the company reported its September quarter results over the weekend.

CDSL’s revenue grew 25% over last year to ₹322 crore, while its net profit also grew 20.7% over the same period last year to ₹162 crore ₹.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 29.4% from the year-ago period to nearly ₹200 crore, while margins increased by 200 basis points to reach 62%.

Revenue from the deposit business grew 25% over last year, while the data capture and storage business also saw similar growth.

CDSL opened 11.8 million demat accounts during this quarter, which is the highest quarterly addition on record. This brings the total number of CDSL waste to 135 million.

“CDSL has been in a strong uptrend over the past year with continued formation of higher highs and higher lows on the weekly charts. Volumes have been exceptionally high during this period, which has helped ensure that the corrections were superficial and the recovery was rapid. Currently, the prices are stuck in the range with ₹1,350 as strong support and ₹1,650 as strong resistance. The RSI has been forming lower highs and lower lows since. the last few weeks, which could result in continued movement of CDSL positions while it is advisable to avoid new additions until prices do not break out of the range,” said Gaurav Bissa of InCred Equities. .

Shares of CDSL are trading 5% higher at ₹1,489.1. The stock is down 10% from its all-time high of ₹1,665.