NSE Q2 Results: Net Profit Falls 33% to ₹2,098 Crore Due to One-Time Provision; Revenue Down 18% YoY
NSE Q2 results: Net profit drops 33% to ₹2,098 crore due to SEBI settlement provision; revenue falls 18% YoY to ₹3,677 crore in Q2FY26.
NSE Q2 Results FY26: Net profit slips 33% to ₹2,098 crore on one-time SEBI provision; revenue declines 18% year-on-year.
The National Stock Exchange of India (NSE) on Tuesday reported a 33% decline in consolidated net profit to ₹2,098 crore for the second quarter of FY26 (July–September 2025), compared to ₹3,137 crore in the same period last year. The dip in profit was mainly attributed to a one-time provision related to SEBI settlements in the Colocation and Dark Fibre matters.
During the quarter, NSE recognised a provision of ₹1,297 crore, including interest, towards the settlement applications filed with the Securities and Exchange Board of India (SEBI). Excluding this provision, the exchange’s consolidated net profit stood at ₹3,395 crore for the quarter.
Revenue and Operating Performance
Revenue from operations declined YoY by 18%, to ` 3,677 crore, decreasing from ` 4,510 crore in Q2FY25.
Operating profit and EBITDA plunged YoY 56% to ` 1,484 crore from ` 3,344 crore, while the EBITDA margin shrank to 40%, from 74% in the corresponding period in the previous fiscal.
Reported EPS came to ₹8.48 in Q2FY26, down from ₹11.81 in Q1FY26 and ₹12.6 in Q2FY25, as the equity base increased due to 4:1 bonus share issuance in Q3FY25.
Contribution to the Exchequer
For the first half of FY26, NSE contributed ₹28,308 crore to the exchequer, comprising:
₹23,451 crore in Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT)
₹1,651 crore in stamp duty
₹496 crore in SEBI fees
₹1,809 crore in income tax
₹901 crore in GST
Trading Volumes
In Q2FY26, NSE’s cash market recorded an average daily traded volume (ADTV) of ₹95,705 crore, a 12% decline quarter-on-quarter (QoQ).
The equity futures segment saw ADTV fall 16% QoQ to ₹1,41,042 crore, while the equity options (premium value) segment declined 16% QoQ to ₹46,442 crore.
What’s Next
NSE recently announced plans to introduce a pre-open session for the F&O segment starting December 8, aimed at enhancing price discovery and market efficiency. The exchange’s much-anticipated IPO is also expected to take place soon, with SEBI chairperson assuring that it will be completed during her tenure.
