IPO bound National Stock Exchange (NSE) reported a 37 per cent YoY profit decline in the third quarter of FY26. The stock exchange’s consolidated Profit After Tax (PAT) stood at Rs 2,408 crore in Q3 FY26, compared to Rs 3,834 crore in Q3 FY25.
On a quarterly basis, the exchange’s profit grew by 15 per cent as its Q2 FY26 profit was Rs 2,098 crore.
NSE’s revenue from operations also declined by 9 per cent YoY during the December quarter. The stock exchange’s consolidated revenue from operations stood at Rs 3,925 crore in Q3 FY26. Its consolidated revenue was Rs 4,349 crore in the corresponding quarter of the previous fiscal year.
NSE reported a total income of Rs 4,395 crore in Q3 FY25, down 9 per cent year. Its total income grew by 6 per cent on a quarterly basis.
NSE Q3 EBITDA and Ependiture
National Stock Exchange’s operating EBITDA for Q3 FY26 declined by 16 per cent YoY but registered a 92 per cent QoQ growth. The company’s operating EBITDA stood at Rs 2,851 crores in the December quarter.
The company’s operating EBITDA margin stood at 73 per cent in Q3 FY26, compared with 40 per cent in Q2 FY26 and 78 per cent in Q3 FY25.
On a consolidated basis, NSE’s total expenditure for Q3 FY26 decreased by 48 per cent QoQ to Rs 1,234 crores. On a yearly basis, its expenditure was up 14 per cent. In Q3FY26, NSE recognised one-off expenses of Rs 126 crore related to the provision for gratuity due to the implementation of new labour codes.
NSE Q3 trade volume
In Q3 FY26, the cash market trading segment recorded an average daily traded volume (ADTVs) of Rs 99,023 crores (up by 3 per cent QoQ).
The ADTV for equity futures segment in Q3 FY26 stood at Rs 1,51,744 crores (up by 8 per cent QoQ); while the ADTV for equity options (premium value) stood at Rs 53,248 crores (up by 15 per cent QoQ).