Shares of Central Depository Services Ltd. (CDSL), are up over 6% in Monday’s trading session after the company reported its September quarter results over the weekend.

Revenue for CDSL increased 25% from last year to ₹322 crore, while its net profit also increased by 20.7% from the same period last year to ₹162 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 29.4% from the year-ago period to nearly ₹200 crore, while margins expanded by 200 basis points to 62%.

Depository activity revenue increased by 25% from last year, while the Data Entry and Storage business also grew by a similar quantum.

CDSL opened 11.8 million demat accounts during this quarter, which is the highest ever quarterly demat addition. This has taken CDSL’s total demat count to 135 million.

“CDSL has been in a strong uptrend in the last one year with continued formation of higher highs and higher lows on the weekly charts. The volumes have been exceptionally high during this while which ensured the corrections were shallow and recovery was swift. Currently, the prices are stuck in the range with ₹1,350 as a strong support and ₹1,650 as strong resistance. RSI is forming lower highs and lower lows since the last few weeks which may result in continued range bound movement in CDSL. Investors are advised to hold the positions whereas fresh additions are advised to be avoided till the prices dont come out of range,” Gaurav Bissa of InCred Equities said.

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