NSE Q2 results: Net profit jumps 23% to ₹2,578 crore, trading volumes lift revenue

The National Stock Exchange (NSE) on Tuesday reported a 23% year-on-year rise in consolidated net profit to ₹2,578 crore for the September quarter of FY27, supported by higher trading activity and a sharp decline in expenses.

The exchange's total income rose 9% to ₹4,554 crore from ₹4,160 crore a year earlier, according to its quarterly earnings statement.

Revenue from transaction charges, NSE's largest revenue stream, increased 9% to ₹3,035 crore from ₹2,789 crore, driven by higher activity in the cash market and equity options segments.

Cash market average daily traded volume (ADTV) jumped 24% year-on-year to ₹1,18,377 crore, while equity options trading volume, measured by premium value, rose 3% to ₹47,977 crore. Equity futures ADTV stood at ₹1,24,574 crore.

Expenses fall sharply, EBITDA doubles

NSE's consolidated expenditure fell 51% to ₹1,161 crore from ₹2,354 crore in the corresponding quarter last year.

The decline largely reflected the absence of a ₹1,297 crore provision that NSE had made in Q2FY26 towards SEBI settlement fees related to the colocation and dark fibre matters.

Operating EBITDA more than doubled, rising 107% to ₹3,079 crore, with an EBITDA margin of 76%.

Earnings per share increased to ₹10.41 from ₹8.48 a year earlier.

The exchange also reported strong growth in other income streams. Revenue from listing services surged 70% to ₹150 crore, while data feed and terminal services revenue climbed 43% to ₹165 crore.

NSE CEO calls quarter a 'momentous' milestone

NSE Managing Director and CEO Ashishkumar Chauhan highlighted the exchange's listing as a major milestone during the quarter.

"Q2FY27 was a momentous quarter for us as we successfully completed the listing of one of the world's largest and most technologically advanced market infrastructure institutions," the NSE CEO said.

"The listing milestone marked an important phase in our evolution, reflecting our continued commitment to the highest standards of governance, transparency and value creation; as we continue to drive innovation and deepen India's capital market ecosystem."

During the quarter, NSE also facilitated what it described as India's first tokenised bond issuances, aggregating ₹1,000 crore. The exchange received regulatory approvals for new products, including derivatives on the Nifty India FPI 150 Index and Corporate Bond Index Futures.

For the first six months of FY27, NSE's consolidated net profit increased 13% to ₹5,698 crore, while total income rose 9% to ₹9,807 crore. Operating EBITDA grew 45% to ₹6,674 crore, with a margin of 77%.

NSE said its total contribution to the exchequer during the first half stood at ₹41,234 crore, including ₹34,788 crore in securities and commodities transaction taxes, ₹2,885 crore in income tax and ₹1,926 crore in stamp duty.