- National Stock Exchange's net profit rose 8.7% to Rs 3,120 crore in June quarter
- Revenue declined 8.2% to Rs 4,560 crore quarter-on-quarter
- EBITDA margin improved to 77.9% despite 2.2% EBITDA decline
The National Stock Exchange of India reported a nearly 9% sequential rise in net profit for the quarter ended June, supported by stronger operating margins despite a decline in revenue.
The IPO-bound exchange posted a consolidated net profit of Rs 3,120 crore, up 8.7% from Rs 2,871 crore in the previous quarter, according to the company's quarterly earnings.
Revenue from operations fell 8.2% quarter-on-quarter to Rs 4,560 crore, compared with Rs 4,968 crore in the March quarter.
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Operating performance remained resilient. EBITDA declined 2.2% sequentially to Rs 3,551 crore from Rs 3,633 crore. However, the EBITDA margin expanded to 77.9% from 73.1% in the preceding quarter, reflecting improved operational efficiency.
The earnings come as the National Stock Exchange moves closer to ending a nearly decade-long wait for its public listing.
The exchange is expected to list on the BSE Ltd. by September 2026, people familiar with the matter told NDTV Profit on Thursday. The world's fifth-largest stock exchange by market capitalisation is awaiting approval from the Securities and Exchange Board of India for its draft red herring prospectus (DRHP).
SEBI is likely to approve the DRHP by mid-August, according to sources. International roadshows are underway, while the exchange is also engaging domestic institutional investors to gauge demand and aid price discovery ahead of the proposed share sale. However, the final issue size, valuation and listing timeline will depend on market conditions and investor feedback, the people said.
Separately, SEBI is also expected to issue the final settlement order in the NSE co-location case soon. The settlement amount is likely to exceed Rs 1,400 crore, sources told NDTV Profit.
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NSE's listing journey has stretched for almost a decade. The exchange first filed draft IPO papers in 2016, but the process was halted after the co-location controversy invited regulatory scrutiny.
The case stems from complaints made in 2015 alleging that certain co-location clients received preferential access to NSE's trading systems, giving them an unfair trading advantage. Since then, the exchange has worked to resolve legacy regulatory issues, including settlement applications related to the case.
On June 17, NSE filed its DRHP with SEBI for its proposed initial public offering. The IPO comprises an entirely offer-for-sale of 14.89 crore shares, meaning the exchange itself will not receive any proceeds.
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