Citadel Securities’ India unit reported revenue growth slowed to about 4% to
41.7 bln rupee (≈$438m) in the fiscal year to March, while profit after tax fell
5% to 19.6 bln rupee, according to Tofler filings. That contrasts with the prior
fiscal year’s 39% revenue and 41% profit gains. Regulators’ measures to curb
options and futures speculation and broader tightening have cooled cash and
derivatives trading, hitting activity for market-makers including Citadel
Securities and Hudson River Trading. Combined with foreign flow shifting to
markets benefiting from US AI-driven trading and a weaker rupee, the data point
to a cooling of the post-pandemic upswing in Indian capital markets.
