IPO-bound NSE shares Q1 results: Key highlights, unlisted share price and more

National Stock Exchange of India (NSE), a leading stock exchange, has announced a 9 per cent increase in consolidated total income on a quarter-on-quarter (QoQ) basis, reaching Rs 4,798 crore for the first quarter of the financial year 2026 (Q1FY26). This marks an improvement from Rs 4,397 crore in the preceding quarter. However, the year-on-year figures show a 3 per cent decline from Rs 4,950 crore in the same period last year or year-on-year (YoY) basis.

In Q1FY26, the consolidated revenue from transaction charges surged by 7 per cent sequentially, amounting to Rs 3,150 crore. This growth has been largely attributed to increased trading volumes across both the cash market and derivatives segments. The NSE's total expenditure for the quarter decreased by 6 per cent on a QoQ basis, settling at Rs 1,053 crore.

The operating earnings before interest, taxes, depreciation, and amortisation (Ebitda) on a consolidated basis showed a 12 per cent sequential rise, reaching Rs 3,130 crore. Excluding gains from sales of investments in subsidiaries and other one-time financial adjustments, the normalised consolidated profit before tax also increased by 12 per cent to Rs 3,683 crore.

The net profit for the quarter grew by 10 per cent to Rs 2,924 crore, compared to Rs 2,650 crore in the previous quarter. Earnings per share improved, rising to Rs 11.81 from Rs 10.71 in Q4FY25. On a standalone basis, the NSE reported a total income of Rs 4,243 crore for Q1FY26, down from Rs 5,860 crore in Q4FY25, largely due to a one-time dividend received in the previous quarter.

Primary revenue from operations increased by 6 per cent sequentially to Rs 3,608 crore, driven by heightened trading activity. The cash market’s average daily traded volume rose by 14 per cent, with the equity futures segment seeing a 5 per cent increase, and the equity options segment posting a 9% rise in traded volumes.

On a standalone basis, operating EBITDA rose by 11 per cent to Rs 2,714 crore. When excluding extraordinary items, the normalised profit before tax was up 13 per cent to Rs 3,141 crore. The net profit for Q1FY26 stood at Rs 2,409 crore with a profit margin of 57 per cent. However, Ebitda and net profit were up 1 per cent and 14 per cent on a YoY comparison.

During this quarter, NSE contributed Rs 14,331 crore to the exchequer. This amount consisted of Rs 12,338 crore from securities transaction tax (STT) and commodities transaction tax (CTT), along with stamp duty, SEBI fees, income tax, and GST contributions.

The increase in transaction charges revenue and robust Ebitda growth underpin NSE's strong financial performance for the quarter, despite the year-on-year income decline. The exchange attributes its success to strategic volume growth within its core market segments.

NSE has been a hot-cake in the unlisted market. The total number of investors in the NSE has topped to 1.46 lakh count from less than 34,000 in March 2025. The four-fold jump has been seen in just 3 months, after the pre-IPO shares of NSE were issued under a new ISIN number, allowing free sale and purchase of the stock.

The stock surged nearly 60 per cent during the same period from Rs 1,500 mark to Rs 2,400. However, the stock has seen some correcting in the unlisted market, falling nearly 10 per cent from its peak and trading in the range of Rs 2,150-2,200 for quite sometime.

NSE is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on SEBI data. NSE has a fully integrated business model comprising exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings.