- NSE reported a 28.2% decline in Q2 consolidated net profit to Rs 2,098 crore
- Consolidated revenue fell 8.8% to Rs 3,677 crore and EBITDA dropped 52.6% in Q2
- Excluding one-time fee, PAT rose 16% QoQ with a strong 63% net profit margin
The National Stock Exchange (NSE) reported a decline profit for the second quarter of financial year 2026. The NSE reported a consolidated net profit of Rs 2,098 crore for the second quarter, marking a fall of 28.2% compared to the Rs 2,924 crore as reported in the previous quarter.
However, excluding a one-time settlement fee, the consolidated Profit After Tax or PAT for the quarter was up 16% quarter-on-quarter, maintaining a strong net profit margin of 63%.
NSE Q2 Highlights (Consolidated, Quarter-on-Quarter)
Revenue fell 8.8% to Rs 3,677 crore versus Rs 4,032 crore.
Ebitda was down 52.6% at Rs 1,484 crore versus Rs 3,130 crore.
Margin stood at 40.4% versus 77.6%.
Net Profit fell 28.2% to Rs 2,098 crore versus Rs 2,924 crore.
The quarter saw a dip in overall financial figures, with consolidated Revenue falling 8.8% to Rs 3,677 crore from Rs 4,032 crore in the previous quarter.
Consolidated total income stood at Rs 4,160 crore. Further, the operating performance was impacted, with Ebitda declining 52.6% to Rs 1,484 crore versus Rs 3,130 crore. This resulted in the Ebitda margin contracting to 40.4% from 77.6% quarter-on-quarter.
Financial Stability And Market Dominance
Focusing on the first half, the exchange demonstrated resilience, with the Consolidated PAT, without the settlement fee, showing an increase of 11% year-on-year. The normalised consolidated operating Ebitda margin for the first half remained high at 77%.
The NSE retained its overwhelming market dominance across major segments during the first half, capturing 93% of the cash market segment and 99.8% in equity futures. The market share in the high-growth equity options segment stood at 77%.
In the debt secondary market, the exchange solidified its leadership in the second quarter, holding a 97% market share in the RFQ segment, 86% in CBRICS, and a 100% share in Tri-party repo.
Listing Services And Technology Investments
Further, revenues from listing services grew by 14% quarter on quarter and 10% year on year during the quarter.
The NSE continues to prioritize technological investment, with technology expenses in the first half of the fiscal year rising 42% year on year to Rs 642 crore. The exchange's total contribution to the exchequer during the first half was at Rs 28,308 crore.
The Notional Turnover to Premium Turnover ratio for NSE in the first half of the fiscal year 2026 stood at 458:1, compared to 984:1 for BSE.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
