NSE Reports Financial Numbers for Q1 FY26
The National Stock Exchange (NSE) released its financial report for the first quarter of FY26, showing some interesting trends.
Revenue and Expenditure Details
In Q1 FY26, NSE had operating revenue amounting to Rs 40.3 billion, marking an 11% Year-on-Year (YoY) decline. This decrease was primarily due to a 14% YoY drop in transaction charges. On the other hand, total expenditure increased by 11% YoY to Rs 9 billion, driven by growth in employee expenses and other operating costs.
The Earnings Before Interest, Taxes, Depreciation, and Amortization (Ebitda) for the quarter fell by 15% YoY to Rs 31.3 billion, resulting in an Ebitda margin of 77.6%. This was lower than the margins reported in the previous quarters.
Profit After Tax (PAT) and Future Outlook
The reported PAT for Q1 FY26 was Rs 29.3 billion, showing a notable 14% YoY increase and a 10% Quarter-on-Quarter (QoQ) growth. The growth in PAT was mainly bolstered by higher other income and no contribution to the Security Guarantee Fund (SGF), despite a weaker revenue performance.
Looking ahead, NSE anticipates growth from various sources, including the expansion of electricity derivatives, the introduction of futures contracts in different commodities, potential VIX futures launch, and ongoing product developments for its international exchange platform.
Market Changes and Future Projections
Starting from September 2025, NSE will witness a shift in Nifty expiry days from Thursday to Tuesday. Analysts estimate that this change could potentially increase market share by 300-400 basis points on a premium turnover basis, counterbalancing any immediate volume weaknesses.
The projection for transaction revenue suggests an 11% Compounded Annual Growth Rate (CAGR) over the FY25-27 period. Overall, NSE expects a 6%-7%-11% CAGR in revenues, Ebitda, and reported PAT for the coming years.
For more detailed insights related to NSE’s financial performance and future prospects, visit the official National Stock Exchange website.
Stay tuned for more updates.
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