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NSE Q1 Results: Consolidated profit rises 10% QoQ to ₹2,924 crore; contribution to exchequer stands at ₹14,331 crore
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5 min read | Updated on July 29, 2025, 15:18 IST
SUMMARY
NSE Q1 Results: The stock exchange reported a consolidated total income of ₹4,798 crore for Q1 FY26, as against ₹4,397 crore logged in Q4 FY25.
NSE's consolidated revenue from transaction charges for Q1 FY26 was ₹3,150 crore, a sequential growth of 7%. | Image: Shutterstock
The stock exchange reported a consolidated total income of ₹4,798 crore for Q1 FY26, as against ₹4,397 crore logged in Q4 FY25.
The consolidated revenue from transaction charges for Q1 FY26 was ₹3,150 crore, a sequential growth of 7% due to an increase in volumes across the cash market and derivatives segments.
On a consolidated basis, total expenditure for Q1 FY26 decreased by 6% QoQ to ₹1,053 crore.
On a consolidated basis, the operating EBITDA increased by 12% QoQ to ₹3,130 crore. Excluding the gains from sales of investment in subsidiaries/associates, income tax refund, and SEBI settlement fees, the normalised consolidated profit before tax for Q1 FY26 increased by 12% QoQ to ₹3,683 crore.
Net profit increased by 10% QoQ to ₹2,924 crore for Q1 FY26 from ₹2,650 crore logged in Q4 FY25. Earnings per share (on a non-annualised basis) for Q1 FY26 were ₹11.81 as compared to ₹10.71 seen in Q4 FY25.
On a standalone basis, NSE’s total income for Q1FY26 stood at ₹4,243 crore as compared to ₹5,860 crore for Q4 FY25. The sequential decline is largely attributable to the dividend received from NSE Investments on account of divestments of our non-core businesses during the last financial year.
"Excluding this one-time subsidiary dividend, NSE’s total income in Q1 FY26 increased by 9% QoQ. The revenue from operations for Q1FY26 stood at ₹3,608 crore, a sequential increase of 6% QoQ, due to an increase in trading volumes across the cash market and derivatives segments," NSE said in its press release.
In Q1 FY26, the cash market trading segment recorded an average daily traded volume (ADTV) of ₹1,08,542 crore (an increase of 14% QoQ). The ADTV for the equity futures segment in Q1 FY26 stood at ₹1,68,430 crore (up by 5% QoQ), while the ADTV for equity options (premium value) stood at ₹55,514 crore (up by 9% QoQ).
NSE Q1 FY26 results: Other Standalone Numbers
On a standalone basis, the operating EBITDA increased by 11% QoQ to ₹2,714 crore for Q1 FY26 from ₹2,444 crore logged in Q4 FY25. The normalised standalone profit before tax for Q1 FY26, excluding the subsidiary dividend, income tax refund, and SEBI settlement fees, increased 13% QoQ to ₹3,141 crore.
Net profit for Q1 FY26 was ₹2,409 crore, and net profit margin was 57% in Q1 FY26.
Consolidated Financial Highlights (₹ in crores)
| Metric | Q1 FY26 | Q4 FY25 | Q1 FY25 | Growth QoQ% | Growth YoY% | FY25 |
|---|---|---|---|---|---|---|
| Total Income | 4,798 | 4,397 | 4,950 | 9% | (3%) | 19,177 |
| Revenue from operations | 4,032 | 3,771 | 4,510 | 7% | (11%) | 17,141 |
| Total Expenses (incl. contribution to core SGF) | 1,053 | 1,124 | 1,530 | (6%) | (31%) | 5,040 |
| Operating EBITDA | 3,130 | 2,799 | 3,106 | 12% | 1% | 12,647 |
| Operating EBITDA Margin (%) | 78% | 74% | 69% | – | – | 74% |
| Share of profit of associates | 30 | 38 | 25 | (20%) | 23% | 129 |
| Profit on sale of investment in associates | – | 55 | – | N/A | N/A | 109 |
| Effect of discontinued operations (net of tax) | 112 | 183 | (29) | N/A | N/A | 582 |
| Profit After Tax (PAT) | 2,924 | 2,650 | 2,567 | 10% | 14% | 12,188 |
| Profit After Tax Margin (%) | 59% | 57% | 52% | – | – | 58% |
| Earnings Per Share (₹) (FV: ₹1) | 11.81* | 10.71* | 10.37* | – | – | 49.24 |
| Book Value per Share (₹) | 134.67 | – | 107.26 | – | – | 122.64 |
| Return on Equity | 37% | – | 41% | – | – | 45% |
NSE’s contribution to the exchequer
During Q1 FY26, NSE’s contribution to the exchequer was ₹14,331 crore, which comprised STT/CTT of ₹12,338 crore, stamp duty of ₹875 crore, SEBI fees of ₹265 crore, income tax of ₹338 crore, and GST of ₹515 crore. Out of STT/CTT of ₹12,338 crores, 54% is from the cash market segment and 46% is from the equity derivatives segment.
The Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government-imposed taxes levied on specific trading activities. These are applied automatically by exchanges.
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