Mumbai, Nov 4 – The National Stock Exchange (NSE) said its profit fell 33 % from a year ago, posting a net profit of ₹2,098 crore for July‑September 2025 (FY26 Q2).
The sharp decline stems from a one‑time ₹1,297 crore SEBI settlement fee related to colocation and dark‑fibre disputes. Removing that hit, NSE’s after‑tax profit actually grew 16 % from the previous quarter, reaching ₹3,395 crore.
The exchange has filed a settlement request with the Securities and Exchange Board of India (SEBI) under the 2018 Settlement Regulations and awaits a decision.
Top line numbers:
- Total income: ₹4,160 crore (down from ₹4,798 crore last quarter and ₹5,023 crore a year ago).
- Revenue from transaction charges slipped 12 % to ₹2,785 crore because fewer shares traded in cash and derivatives markets.
Costs and earnings:
- Total expenses jumped to ₹2,354 crore, mainly due to the SEBI settlement provision. Without it, costs would have been only ₹1,056 crore.
- EBITDA fell to ₹1,484 crore, but it would have been ₹2,782 crore (a 76 % margin) if the provision were excluded.
- EPS for the quarter was ₹8.48, down from ₹11.81 previously (after a 4:1 bonus issue in Q3 FY25). Excluding the SEBI hit, EPS would have been ₹13.72 with a 63 % net profit margin.
Half‑year view:
- First‑half income: ₹8,959 crore, down from ₹9,974 crore a year earlier.
- Net profit: ₹5,022 crore; or ₹6,320 crore if the SEBI provision is omitted.
On a standalone basis, NSE’s Q2 income fell to ₹3,666 crore from ₹4,243 crore in Q1, and operating revenue slipped 9 % to ₹3,266 crore, reflecting lower trading volumes across all segments.
Source: ianslive
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