NSE Q1FY26 Results: Consolidated PAT Rises 10% QoQ to ₹2,924 Cr; Transaction Charges Surge on Higher Volumes

Mumbai, July 29, 2025 — National Stock Exchange of India Ltd (NSE) reported a consolidated net profit of ₹2,924 crore for Q1FY26, marking a 10% sequential growth from ₹2,650 crore in Q4FY25. The performance was driven by higher trading volumes across segments and effective cost management.

Key Consolidated Financial Highlights (₹ in crore)

The company earned a total income of 4,798 crore in the Q1FY26, which is 9% QoQ but 3% YoY. The revenue growth in operations was 4,032 crore, which was a QoQ growth of 7%; however, a decrease of 11% YoY. It increased EBITDA growth by 12% QoQ to 3,130 crore. The net profit increased 10% QoQ and 14% YoY to Rs 2,924 crore on a PAT margin of 59%. Profit before tax (not including one-offs) increased 12 percent QoQ to 3,683 crore after being normalized.

Segment-Wise Highlights

• Transaction Charges (₹3,150 crore) contributed 66% of Q1FY26 income, registering a QoQ growth of 7%.
• Cash Market ADTV surged 14% QoQ to ₹1,08,542 crore.
• Equity Options ADTV rose 9% to ₹55,514 crore.
• Equity Futures ADTV grew 5% to ₹1,68,430 crore.
• Currency Derivatives ADTV, however, dropped 35% sequentially.

Standalone Performance

The total income of the company dropped 28 percent QoQ to 4,243 crore in Q1FY26, primarily because of a one-time dividend of 1,982 crore that the company received from NSE investments in Q4FY25. The operations revenue increased by 6% QoQ to 3,608 crore but declined by 11% YoY. EBITDA QoQ growth rose by 11% to 2714 crore. The net profit was 2409 crore, a 40% decrease from the previous quarter but a 23% increase year-over-year, and the EPS was 9.73.

Contribution to Exchequer

NSE tolled the exchequer 14,331 crore in Q1FY26 due to diverse levies. This comprised 12,338 crore through STT/CTT and 875 crore through stamp duty, 265 crore as SEBI fees, 338 crore as income tax and 515 crore as GST. The STT/CTT grossed 54% from the cash market and 46% from equity products, with a notable balance across the segment.

Management Commentary

NSE emphasised continued momentum in trading volumes and robust operational performance, with a sharp 12% growth in normalised consolidated PBT. The company remains focused on capital market development and technology-led efficiency.

Strategic Positioning

• NSE retained 100% market share in currency derivatives, and over 99% in equity futures in Q1FY26.
• NSE also maintained its global leadership as the largest derivatives exchange by volume and the second-largest equity exchange by trades.

About NSE

National Stock Exchange of India Ltd (NSE) is India’s largest stock exchange and a global leader in derivatives trading. It offers integrated services across trading, clearing, listing, market data, and education. NSE is unlisted and regulated by SEBI.

REF: https://nsearchives.nseindia.com//web/pressrelease/2025-07/PR_cc_29072025_20250729150459.pdf

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