NSE Reports Robust Q3FY26 Performance with 15% Profit Growth
The National Stock Exchange of India (NSE) has announced impressive financial results for the third quarter of fiscal year 2026, showcasing significant growth in profitability and operational efficiency. In a statement released on Friday, the exchange revealed a consolidated net profit of Rs 2,408 crore for the quarter ended December 2025, marking a substantial 15% increase compared to the previous quarter. This surge in earnings is primarily attributed to heightened trading activities across various market segments, reflecting strong investor confidence and market participation.
Income and Revenue Streams Show Steady Expansion
Consolidated total income for NSE in Q3FY26 rose by 6% sequentially, reaching Rs 4,395 crore, up from Rs 4,160 crore in the preceding quarter. This growth was underpinned by robust performance in key revenue areas. Revenue from transaction charges, a critical component of NSE's earnings, increased by 9% quarter-on-quarter to Rs 3,033 crore, driven by higher volumes in both the equity cash market and derivatives segments. Additionally, revenue from data feed and terminal services grew by 5% to Rs 121 crore, while listing services revenue witnessed a notable 25% jump to Rs 111 crore, indicating diversified income sources and enhanced service offerings.
Cost Management and Operational Efficiency
Total consolidated expenditure for NSE declined sharply by 48% QoQ to Rs 1,234 crore during Q3FY26. This reduction includes a one-time expense of Rs 126 crore related to gratuity provision adjustments following the implementation of new labour codes. Excluding such one-off items, the exchange's operational performance remained strong, with operating EBITDA surging by 92% sequentially to Rs 2,851 crore. Normalised consolidated profit before tax, adjusted for exceptional costs, increased by 6% QoQ to Rs 3,325 crore, highlighting effective cost control measures and improved operational margins.
Standalone Performance and Market Metrics
On a standalone basis, NSE's total income for Q3FY26 rose to Rs 4,419 crore from Rs 3,666 crore in the previous quarter, largely due to dividends received from subsidiaries and higher transaction revenue. Standalone profit after tax saw a remarkable 40% QoQ increase to Rs 2,603 crore, with a profit after tax margin of 59%, underscoring the exchange's core financial health. In terms of market activity, average daily traded volumes (ADTVs) in the cash market segment grew by 3% QoQ to Rs 99,023 crore, while ADTV in equity futures expanded by 8% to Rs 1,51,744 crore, and equity options (premium value) climbed by 15% to Rs 53,248 crore, reflecting vibrant trading environments.
Nine-Month Overview and Fiscal Contributions
For the nine months ended December 2025 (9MFY26), NSE's consolidated total income stood at Rs 13,354 crore, compared to Rs 14,780 crore in the same period last fiscal year. Reported consolidated profit after tax for 9MFY26 was Rs 7,431 crore, with earnings per share at Rs 30.02 (non-annualised). Furthermore, NSE made significant contributions to the national exchequer during this period, totaling Rs 41,842 crore. This includes securities transaction tax/commodity transaction tax (Rs 34,835 crore), stamp duty (Rs 2,472 crore), income tax (Rs 2,414 crore), GST (Rs 1,376 crore), and SEBI fees (Rs 745 crore), emphasizing its pivotal role in India's financial ecosystem and economic framework.
