Mumbai — The National Stock Exchange of India reported an 8.2% sequential decline in consolidated revenue from operations for the quarter ended June 30 as the exchange continued preparations for its long-awaited initial public offering.
Revenue fell to Rs 4,560 crore in the first quarter of fiscal 2027 from Rs 4,968 crore in the preceding quarter, according to a regulatory filing.
Despite the decline in revenue, NSE’s net profit rose 8.7% quarter-over-quarter to Rs 3,120 crore, compared with Rs 2,871 crore in the quarter ended March 31.
Earnings before interest, taxes, depreciation and amortization totaled Rs 3,551 crore, slightly below the Rs 3,633 crore reported in the previous quarter.
The exchange’s EBITDA margin improved sharply to 77.9% from 73.1%.
The results come as India’s largest stock exchange moves closer to a public listing following nearly a decade of regulatory delays.
NSE filed its draft red herring prospectus with the Securities and Exchange Board of India on June 17 for the proposed IPO.
The offering will consist entirely of an offer for sale of 148.9 million equity shares by existing shareholders. NSE will not receive any proceeds from the transaction.
The exchange first began pursuing a listing in 2016, but the process was delayed by regulatory scrutiny related to its co-location facilities.
The controversy emerged after complaints filed in 2015 alleged that some clients using NSE’s co-location services received preferential access to the exchange’s trading systems, potentially allowing them to execute trades faster than other market participants.
SEBI is also expected to issue a final settlement order in the co-location case. The settlement amount could exceed Rs 1,400 crore, according to media reports. (Source: IANS)
