MUMBAI– The National Stock Exchange of India (NSE) reported a 17.4% decline in consolidated net profit for the second quarter of fiscal 2027, as lower revenue and weaker operating performance weighed on earnings compared with the preceding quarter.
India’s largest stock exchange posted a consolidated net profit of Rs 2,578 crore for the quarter ended September 2026, down from Rs 3,120 crore in the June quarter, according to a regulatory filing released Tuesday.
Consolidated revenue declined 10.8% to Rs 4,067 crore from Rs 4,560 crore in the previous quarter.
The exchange also reported a deterioration in operating earnings. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 13.3% to Rs 3,079 crore from Rs 3,551 crore in the preceding quarter.
NSE’s EBITDA margin narrowed to 75.7% from 77.9% in the June quarter, reflecting a decline in operating profitability.
Despite the sequential decline in financial performance, trading activity remained strong across several market segments.
Average daily traded volume in the cash market increased 24% year over year to Rs 118,377 crore during the September quarter.
In the equity options segment, average daily traded volume measured by premium value rose 3% from the same period a year earlier to Rs 47,977 crore.
The equity futures segment recorded average daily traded volume of Rs 124,574 crore during the quarter.
Beyond its core trading operations, NSE reported growth in several non-trading revenue streams, including data services, investment income and listing fees.
Revenue from data connectivity charges reached Rs 267 crore, while operating investment income increased 9% year over year to Rs 237 crore from Rs 217 crore in the corresponding quarter of the previous fiscal year.
Revenue from data feed and terminal services climbed 43% to Rs 165 crore, while listing services revenue surged 70% to Rs 150 crore compared with the year-ago period.
The exchange also announced plans to sell a 40% stake in its National Coal Exchange of India subsidiary as part of efforts to establish an organized marketplace for coal trading.
Under the proposed arrangement, NSE intends to bring in strategic investors while retaining a majority ownership stake in the subsidiary.
The planned coal trading platform is aimed at developing a structured marketplace for coal transactions in India.
In another development, NSE facilitated India’s first tokenized bond issuances totaling Rs 1,000 crore during the September quarter.
The initiative represents a step toward expanding the use of digital infrastructure in India’s bond market, where tokenization allows financial instruments to be represented and managed through digital systems.
The exchange’s quarterly results highlight a contrast between declining revenue and profitability on a sequential basis and continued growth in trading activity and several non-trading business segments. (Source: IANS)
