NSE Q2 results: Profit rises 16% QoQ to Rs 2,613 crore; total income stands at Rs 4,160 crore
NSE’s profit after tax (PAT), excluding settlement fees, rose 16% quarter-on-quarter, with a robust net profit margin of 63%, underscoring strong operating leverage. However, after accounting for a one-time settlement provision, net profit dropped 28% sequentially from Rs 2,924 crore in Q1FY26.
- Nov 4, 2025,
- Updated Nov 4, 2025 7:10 PM IST
The National Stock Exchange of India (NSE) on Tuesday reported a consolidated total income of Rs 4,160 crore for Q2FY26, posting steady operational growth across business segments even as it set aside provisions linked to pending regulatory matters.
The exchange’s profit after tax (PAT), excluding settlement fees, rose 16% quarter-on-quarter, with a robust net profit margin of 63%, underscoring strong operating leverage. However, after accounting for a one-time settlement provision, net profit dropped 28% sequentially from Rs 2,924 crore in Q1FY26.
For the half year ended September 2025, NSE’s consolidated PAT (excluding settlement fees) grew 11% year-on-year, while the normalised consolidated operating EBITDA margin stood at an impressive 77%, reflecting the exchange’s cost efficiency and market dominance.
Provision for regulatory settlements
In its quarterly statement, NSE disclosed that it had recognised a provision of ₹1,297 crore (including interest) towards settlement applications filed with SEBI under the SEBI (Settlement Regulations), 2018, relating to the Colocation and Dark Fibre matters. The exchange said it is awaiting SEBI’s response and that the future outcome remains uncertain.
Market leadership intact
NSE continued to consolidate its leadership position across asset classes. For H1FY26, it maintained a 93% market share in the cash market segment, 99.8% in equity futures, and 77% in equity options.
In the debt secondary market, NSE commanded a 97% share in the RFQ segment, 86% in CBRICS, and a full 100% in Tri-party repo transactions during Q2FY26. The Notional-to-Premium Turnover ratio stood at 458:1, significantly better than BSE’s 984:1, highlighting deeper market participation and liquidity on NSE’s platform.
Listing, technology, and growth focus
Revenues from listing services rose 14% quarter-on-quarter and 10% year-on-year, reflecting continued traction in capital market activity and IPO listings.
The exchange also ramped up its technology investments, with expenses rising 42% year-on-year to ₹642 crore in H1FY26. These investments, NSE said, are part of its strategy to strengthen market infrastructure, cybersecurity, and trading resilience amid rising transaction volumes.
NSE’s contribution to the exchequer stood at a substantial ₹28,308 crore in H1FY26, reaffirming its key role in India’s financial ecosystem.
The National Stock Exchange of India (NSE) on Tuesday reported a consolidated total income of Rs 4,160 crore for Q2FY26, posting steady operational growth across business segments even as it set aside provisions linked to pending regulatory matters.
The exchange’s profit after tax (PAT), excluding settlement fees, rose 16% quarter-on-quarter, with a robust net profit margin of 63%, underscoring strong operating leverage. However, after accounting for a one-time settlement provision, net profit dropped 28% sequentially from Rs 2,924 crore in Q1FY26.
For the half year ended September 2025, NSE’s consolidated PAT (excluding settlement fees) grew 11% year-on-year, while the normalised consolidated operating EBITDA margin stood at an impressive 77%, reflecting the exchange’s cost efficiency and market dominance.
Provision for regulatory settlements
In its quarterly statement, NSE disclosed that it had recognised a provision of ₹1,297 crore (including interest) towards settlement applications filed with SEBI under the SEBI (Settlement Regulations), 2018, relating to the Colocation and Dark Fibre matters. The exchange said it is awaiting SEBI’s response and that the future outcome remains uncertain.
Market leadership intact
NSE continued to consolidate its leadership position across asset classes. For H1FY26, it maintained a 93% market share in the cash market segment, 99.8% in equity futures, and 77% in equity options.
In the debt secondary market, NSE commanded a 97% share in the RFQ segment, 86% in CBRICS, and a full 100% in Tri-party repo transactions during Q2FY26. The Notional-to-Premium Turnover ratio stood at 458:1, significantly better than BSE’s 984:1, highlighting deeper market participation and liquidity on NSE’s platform.
Listing, technology, and growth focus
Revenues from listing services rose 14% quarter-on-quarter and 10% year-on-year, reflecting continued traction in capital market activity and IPO listings.
The exchange also ramped up its technology investments, with expenses rising 42% year-on-year to ₹642 crore in H1FY26. These investments, NSE said, are part of its strategy to strengthen market infrastructure, cybersecurity, and trading resilience amid rising transaction volumes.
NSE’s contribution to the exchequer stood at a substantial ₹28,308 crore in H1FY26, reaffirming its key role in India’s financial ecosystem.