NSE profit rises 23% to ₹2,578 crore in first results since listing

The National Stock Exchange earned ₹2,578 crore in the September quarter, up 23% from a year ago, in the first set of results it has announced since listing its own shares.

The consolidated net profit for the three months to 30 September compared with ₹2,098 crore in the same quarter of 2025. Revenue from operations rose 11% to ₹4,067 crore, from ₹3,677 crore, as trading volumes kept the exchange’s main business growing.

A softer quarter than June

The picture was less bright against the previous three months. Profit fell 17.4% from ₹3,120 crore in the June quarter, and revenue was 10.8% lower than the ₹4,560 crore of April to June.

Operating profit, or EBITDA, came in at ₹3,079 crore, down 13.3% from ₹3,551 crore. The exchange still keeps three of every four rupees of revenue as operating profit: its margin was 75.7%, against 77.9% in the June quarter.

Coal exchange stake on the block

Alongside the numbers, the board approved selling up to 40% of National Coal Exchange of India, a wholly owned subsidiary. The stake can be sold in one or more tranches, the exchange said. It did not name buyers or a price.

The results came after the close of trading. NSE shares had ended 1.31% higher at ₹1,803 on the BSE on Tuesday, a little above the ₹1,785 issue price at which they were sold to investors. At midday the exchange was valued at about ₹4.44 lakh crore.

The board, chaired by Srinivas Injeti with Ashishkumar Chauhan as managing director and chief executive, includes former TCS chief Rajesh Gopinathan among its members.

What it means

For a company that runs India’s busiest stock and derivatives market, the year-on-year jump shows how much of its income still rises and falls with trading activity. Investors will see on Wednesday how the shares take to the first set of listed numbers and the decision to sell part of the coal business.