NSE Consolidated Net Profit Rises 14% YoY in Q1 FY26 Despite Revenue Dip
Driven by transaction fee growth and cost optimization, the National Stock Exchange (NSE) recorded a **consolidated net profit of ₹2,924 crore** in the first quarter of fiscal year 2025-26 (Q1 FY26), marking a 14% year-over-year (YoY) increase, according to data released on Tuesday.
Revenue Trends
Total revenue from operations for the period fell 11% YoY to ₹4,032 crore but saw a 7% sequential growth. This uptick was attributed to higher transaction charges, signaling improved market activity despite broader economic pressures.
EBITDA and Cost Management
Operating EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) inched up 1% YoY to ₹3,130 crore. On a quarterly basis, EBITDA surged 12%, with operating margins expanding to 78% from the prior quarter’s 74%. Total expenditure dropped 6% quarter-over-quarter (QoQ) to ₹1,053 crore, largely due to reduced regulatory fees and other operational costs.
Standalone Financials and Tax Contributions
On a standalone basis, NSE’s net profit stood at ₹2,409 crore—a 40% decline from Q1 FY25. This drop stems from a high profit base in the previous quarter, which included exceptional dividend income. Excluding one-time factors, normalized profit before tax increased 13% QoQ to ₹3,141 crore.
The exchange contributed ₹14,331 crore to the government treasury during the quarter, including ₹12,338 crore in Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT) collections.
Market Performance Highlights
- Average Daily Traded Volumes (ADTV) in the cash market climbed 14% QoQ to ₹1.08 lakh crore
- Equity futures volumes rose 5% QoQ, while options saw a 9% increase
The NSE maintained dominant market shares exceeding 94% across all segments.
Global Exchange Leadership
The National Stock Exchange reaffirmed its position as the world’s largest derivatives exchange by trading volume and the second-largest equity exchange globally by trade count, cementing its role as India’s leading financial market infrastructure platform.