NSE Q3 FY26 Profit Rises 15% QoQ to ₹2,408 Crore as Trading Volumes Lift Income

National Stock Exchange of India reported a strong sequential performance for the third quarter of FY26, with consolidated profit after tax rising 15 percent quarter-on-quarter to ₹2,408 crore, supported by higher trading activity across equity cash and derivatives segments.
Consolidated total income for the quarter stood at ₹4,395 crore, marking a 6 percent rise over the previous quarter. Earnings per share for Q3 FY26 were reported at ₹9.73 on a non-annualised basis, compared with ₹8.48 in Q2 FY26.

Consolidated Financial Performance Highlights​

Transaction charges remained the primary revenue driver, contributing ₹3,033 crore during the quarter, up 9 percent sequentially. Growth was led by higher volumes in equity cash, equity futures, and equity options.
Revenue from data feed and terminal services rose 5 percent quarter-on-quarter to ₹121 crore, while listing services revenue increased 25 percent sequentially to ₹111 crore.

Cost Control Boosts Margins​

Total consolidated expenditure declined sharply by 48 percent quarter-on-quarter to ₹1,234 crore, aiding margin expansion. Operating EBITDA surged to ₹2,851 crore, translating into a margin of 73 percent for the quarter.
Excluding one-off items, normalised consolidated profit before tax increased 6 percent quarter-on-quarter to ₹3,325 crore, indicating steady underlying operating performance.

Market Activity Remains Robust​

Average daily traded volumes showed consistent growth across key segments during the quarter.
The increase in derivatives volumes continued to underpin transaction charge growth and overall revenue momentum.

Nine-Month Performance Snapshot​

For the nine months ended December 2025, consolidated total income stood at ₹13,354 crore, while profit after tax was reported at ₹7,431 crore. Earnings per share for the nine-month period were ₹30.02 on a non-annualised basis.
During the same period, the exchange contributed ₹41,842 crore to the public exchequer, reflecting its scale of operations and market participation levels.

Standalone Results Show Sharp Sequential Improvement​

On a standalone basis, total income for Q3 FY26 jumped to ₹4,419 crore from ₹3,666 crore in the previous quarter. Standalone profit after tax rose 40 percent quarter-on-quarter to ₹2,603 crore, with operating EBITDA increasing 129 percent to ₹2,496 crore.
Standalone profit margins also strengthened, with PAT margin at 59 percent for the quarter.

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