Proprietary trading firms, including those owned by global companies, saw their gross profit from equity derivatives decline to 445 billion rupees ($4.65 billion) in the year ended in March, as speculative fervor cooled following curbs imposed by the market regulator.

The decline reflects a significant drop from previous years, with the market regulator's interventions aimed at reducing excessive speculation in the derivatives segment.

Bloomberg Markets reports that the curbs have effectively tempered the speculative activity that had previously driven substantial profits for prop trading firms.

The $4.65 billion figure represents the total gross profit across all proprietary trading entities operating in India's equity derivatives market during the financial year.