Whalesbook
Quarterly Surge Driven by Trading Volume
National Stock Exchange (NSE) saw its March quarter net profit jump 19% to ₹2,871 crore, fueled by a 34% rise in transaction charges to ₹4,077 crore. Strong market activity across equity and derivatives segments drove this growth. Total income climbed 22% sequentially to ₹5,360 crore. Average daily traded value in the cash market rose 21% to ₹1,19,617 crore, and equity options turnover surged 43% to ₹76,375 crore.
Rising Expenses and Regulatory Hurdles
Operating performance stayed strong, with EBITDA up 27% to ₹3,633 crore and margins holding at 73%. Total expenses rose 20% to ₹1,486 crore, primarily due to increased provisions. These provisions covered ₹223 crore for corporate social responsibility (CSR) – a jump from ₹5 crore last quarter – and ₹84 crore for settlement applications concerning co-location and dark fibre issues. NSE is awaiting approval from the Securities and Exchange Board of India (SEBI) for settlement terms that could involve a ₹1,491.21 crore payout.
Full-Year Dip Follows Strong Quarter, Dividend Proposed
Looking at the full fiscal year FY26, NSE's total income was ₹18,713 crore, a slight decrease from ₹19,177 crore in FY25. Net profit for the year declined to ₹10,302 crore from ₹12,188 crore. Despite this annual decrease, the board has proposed a final dividend of ₹35 per equity share for FY26, which includes a ₹10 special dividend, pending shareholder approval.