NSE Q2 Results: Profit Jumps 57%, Total Income Up 25%
IPO-bound National Stock Exchange Ltd. posted a 57% growth in consolidated net profit in the second quarter of the financial year.
India's largest bourse reported a bottom line of Rs 3,137 crore in the July-September quarter. The net profit margin stood at 62%. The total income rose 25% to Rs 5,023 crore, according to a statement released on Monday.
"Apart from trading revenue, the revenue from operations was also supported by other revenue lines, which mainly includes clearing services, data centre and connectivity charges, listing services, index services and data services," NSE said.
During the quarter, cash markets saw average daily traded volumes of Rs 1.29 lakh crore, reflecting a 66% year-on-year increase. Equity futures recorded an ADTV of Rs 2.02 lakh crore, up by 64%, while equity options (premium value) reached an ADTV of Rs 65,648 crore, marking an 8% rise.
NSE paid Rs 30,130 crore in taxes in the first half of this fiscal, which comprised securities transaction tax and capital transfer tax of Rs 24,755 crore, stamp duty of Rs 2,099 crore, SEBI fees of Rs 1,333 crore, income tax of Rs 1,119 crore and goods and services tax of Rs 824 crore.
Out of the STT/CTT of Rs 24,755 crore, 64% came from the cash market segment and 36% from the equity derivatives segment.
Amid the boom in the IPO market, NSE earned Rs 147 crore from listing services.
NSE IPO
In August, the NSE submitted a fresh application to the Securities and Exchange Board of India seeking an IPO no objection certificate, according to people familiar with the matter. The move comes after SEBI informed the Delhi High Court about the absence of a new application from NSE.
NDTV Profit was previously told that the process of launching an IPO begins with the NSE requesting a NOC. Once the NOC is obtained from SEBI, the company prepares the draft red herring prospectus, which includes vital information about its financial status and business model.
This DRHP is then filed with SEBI, which conducts a thorough review. After scrutiny, the markets regulator either approves the DRHP or requests further amendments. Once approval is secured, the company can proceed with its IPO, allowing it to raise funds from public investors.
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