NSE Q3 Results: Revenue jumps 25%, profit up 8% YoY to Rs 1,975 crore

India’s largest stock exchange NSE on Saturday reported a 25% year-on-year (YoY) rise in its consolidated revenue from operations to Rs 3,517 crore for the quarter ended December while its net profit was up 8% YoY at Rs 1,975 crore.

The quarterly net profit margins stood at 51%, NSE said. Apart from trading revenue, the revenue from operations was also supported by other revenue lines, which mainly include data centre & connectivity charges, clearing services, listing services, index services and data services.

On a consolidated basis, the earnings per share (EPS) increased to Rs 39.90 in Q3FY24 from Rs 36.90 in Q3FY23.

On the trading volumes front, cash markets recorded an average daily traded volumes (ADTVs) of Rs 80,512 crore (up 50% YoY) while the equity futures reached an ADTV of Rs 1,31,010 crore (up 18% YoY) and equity options (premium value) ADTVs stood at Rs 56,707 crore (up 28% YoY) for Q3 FY24.

Accordingly, while the overall volumes for Q3FY24 for cash equity and equity derivatives segment grew by 29% YoY, the total transaction charges grew by only 18% YoY. This was mainly due to a rollback of increased transaction charges effective April 1, 2023, the bourse said.

On a standalone basis, NSE reported a total operating income of Rs 3,170 crore for Q3 FY24, showing a growth of 21% on a year-on-year basis, which was Rs 2,629 crore for the corresponding quarter last year.
During the quarter, NSE incurred total expenses of Rs 1,620 crore for Q3FY24 on a standalone basis. Almost 50% of these expenses amounting to Rs 810 crore, are towards SEBI regulatory fees, additional contribution to Core SGF as desired by SEBI and Contribution to IPFT.

NSE in the nine months of FY24 has made an additional contribution of Rs 1,167 crore to augment the Core Settlement Guarantee Fund corpus from the current level of around Rs 5,000 crore to Rs 10,000 crore as desired by SEBI.

At the operating EBITDA level NSE, on a standalone basis, posted an EBITDA margin of 52% for Q3 FY24 compared to 73% in the corresponding quarter last year.

NSE is an unlisted company but its shares are popular in the unlisted market.

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