NSE Q1 PAT rises 14% YoY

The National Stock Exchange of India (NSE) posted a 14% year-on-year rise in consolidated net profit at Rs 2,924 crore in Q1 June 2025 (Q1 FY26), driven by robust operating performance and a sharp decline in expenses.

Consolidated revenue from operations, however, declined 11% YoY to Rs 4,032 crore from Rs 4,510 crore in Q1 FY25, while total income fell 3% to Rs 4,798 crore.

EBITDA stood at Rs 3,130 crore, inching up 1% year-on-year and rising 12% sequentially. Margins remained healthy, with operating EBITDA margin expanding to 78%, compared to 69% in Q1 FY25 and 74% in the preceding quarter.

Total expenses dropped 31% YoY to Rs 1,053 crore, offering strong operating leverage. The share of profit from associates also grew 23% YoY to Rs 30 crore.

The bottom line was further aided by discontinued operations (net of tax), which added Rs 112 crore to the books this quarter versus a negative impact of Rs 29 crore in Q1 FY25.

Sequentially, profit after tax (PAT) rose 10%, while total income increased 9% compared to Q4 FY25.

In terms of business activity, NSE's cash market average daily traded volume (ADTV) rose 14% QoQ to Rs 1,08,542 crore. The ADTV for equity futures grew 5% to Rs 1,68,430 crore, while equity options (premium value) ADTV jumped 9% to Rs 55,514 crore in Q1 FY26.

NSE continues to hold its top global position as the world's largest derivatives exchange by trading volume (contracts), according to the Futures Industry Association (FIA). It also ranks second globally in the equity segment by number of trades (electronic order book), as per the World Federation of Exchanges (WFE) 2024 data.

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