NSE profit declines by 17% in Q2 to Rs 2,578 Cr; revenue falls 10.8%

Mumbai: The National Stock Exchange of India (NSE) on Tuesday posted a sequential decline in profitability during the quarter ended September 2026 (Q2 FY27), with consolidated net profit falling 17.4 per cent to Rs 2,578 crore from Rs 3,120 crore in the preceding June quarter (Q1 FY27).

The country's largest stock exchange reported consolidated revenue of Rs 4,067 crore for Q2FY27, down 10.8 per cent from Rs 4,560 crore recorded in the previous quarter, according to its stock exchange filing.

Operating performance also weakened sequentially, with earnings before interest, tax, depreciation and amortisation (EBITDA) declining 13.3 per cent to Rs 3,079 crore from Rs 3,551 crore.

EBITDA margin narrowed to 75.7 per cent from 77.9 per cent in the June quarter, as per its regulatory filing.

Despite the sequential decline in earnings, trading activity in the cash market remained strong.

Average daily traded volume (ADTV) in the cash market rose 24 per cent year-on-year to Rs 1,18,377 crore during the quarter.

In the equity options segment, ADTV measured by premium value increased 3 per cent year-on-year to Rs 47,977 crore, while the equity futures segment recorded an ADTV of Rs 1,24,574 crore.

NSE also witnessed growth across several non-trading revenue streams during the quarter.

Revenue from data connectivity charges stood at Rs 267 crore. Operating investment income increased 9 per cent year-on-year to Rs 237 crore from Rs 217 crore in the corresponding quarter last year.

Revenue from data feed and terminal services jumped 43 per cent to Rs 165 crore, while listing services revenue surged 70 per cent to Rs 150 crore compared with the year-ago period.

The exchange also announced plans to divest a 40 per cent stake in its National Coal Exchange of India subsidiary.

The proposed platform is intended to create an organised marketplace for coal trading, with NSE planning to induct strategic investors while retaining majority ownership.

During the quarter, NSE facilitated India's first tokenised bond issuances worth Rs 1,000 crore, marking a significant step in the development of digital bond market infrastructure.