NSE reports strong Q3 FY26 as trading activity picks up

NSE reports strong Q3 FY26 as trading activity picks up

• NSE Q3FY26 profit after tax rose 15 percent to Rs 2,408 crore
• Operating EBITDA nearly doubled to Rs 2,851 crore, margin expanded to 73 percent
• Trading volumes and transaction income drove strong quarterly performance

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The National Stock Exchange (NSE), the country’s biggest exchange, reported a strong performance for the quarter ending 31 December, supported by higher trading volumes and better cost management.  On a consolidated basis, NSE’s total income rose 6 percent quarter-on-quarter to Rs 4,395 crore from Rs 4,160 crore in Q2 FY26. Profit after tax (PAT) increased 15 percent to Rs 2,408 crore, compared with Rs 2,098 crore in the previous quarter. Profitability improved significantly, with the PAT margin rising to 54 percent from 39 percent in Q2. Earnings per share (on non-annualized basis) for Q3FY26 was Rs 9.73 as compared to Rs 8.48 for Q2FY26.

Operating performance also strengthened during the quarter. Operating EBITDA nearly doubled to Rs 2,851 crore, up 92 percent sequentially, while the EBITDA margin expanded sharply to 73 percent from 40 percent. The improvement was mainly driven by higher transaction income and controlled expenses.

Revenue from transaction charges grew 9 percent to Rs 3,033 crore, helped by increased trading across cash and derivatives segments. Income from data feeds and terminal services rose to Rs 121 crore, while listing services revenue increased to Rs 111 crore.

On a standalone basis, NSE reported total income of Rs 4,419 crore in Q3 FY26, up 21 percent from Rs 3,666 crore in the previous quarter. Revenue from operations grew 8 percent to Rs 3,522 crore. Standalone profit after tax rose 40 percent to Rs 2,603 crore, translating into a strong margin of 59 percent.

Trading activity remained healthy during the quarter. Average daily traded value in the cash market stood at Rs 99,023 crore, up 3 percent quarter-on-quarter. Equity futures turnover increased 8 percent to Rs 1,51,744 crore, while equity options (premium value) rose 15 percent to Rs 53,248 crore.

For the first nine months of FY26, NSE reported consolidated total income of Rs 13,354 crore and profit after tax of Rs 7,431 crore. During this period, the exchange contributed Rs 41,842 crore to the exchequer through securities and commodities transaction tax (STT/CTT), stamp duty, income tax, GST and SEBI fees.