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India’s premier exchange, the National Stock Exchange (NSE), has unveiled its impressive financial results for Q2 FY24. The exchange announced a 24% year-on-year increase in consolidated revenue from operations, reaching INR 3,652 crores. This robust performance is attributed not only to trading revenue but also a diverse range of income sources, including clearing services, listing services, index services, data services, and colocation services.
In terms of profitability, NSE reported a substantial 13% growth in consolidated net profit for Q2 FY24, totaling INR 1,999 crores. The net profit margin for the quarter stood at an impressive 50%.
On a consolidated basis, earnings per share (EPS) saw a positive trend, rising to INR 40.38 in Q2 FY24, compared to INR 35.83 in Q2 FY23.
Impressive figures were also noted in trading volumes on the NSE: cash markets recorded an average daily traded volume (ADTV) of INR 77,757 crores, marking a remarkable 40% year-on-year increase. Equity futures reached an ADTV of INR 1,23,019 crores, reflecting a 4% YoY growth, while equity options (premium value) ADTVs stood at INR 60,621 crores, indicating a substantial 33% YoY rise.
On a standalone basis, the NSE reported a total operating income of INR 3,386 crores, a remarkable 22% year-on-year growth compared to INR 2,770 crores for the corresponding quarter of the previous year.
However, it’s worth noting that expenses on a standalone basis increased by 135% YoY to INR 1,623 crores, with around 50% of these expenses, amounting to INR 804 crores, being allocated to SEBI Turnover Fees, Contribution to IPFT, and Contribution to Core SGF.
At the operating EBITDA level, NSE on a standalone basis posted an EBITDA margin of 54% for Q2 FY24, compared to 78% in the corresponding quarter of the previous year.
The exchange reported a standalone net profit of INR 1,562 crores for Q2 FY24, showing a moderate 2% increase year-on-year. The net standalone profit margin stood at 42%.
During the first half of FY24, NSE contributed a substantial INR 18,744 crores to the exchequer, comprising STT (Securities Transaction Tax) at INR 14,858 crores, Stamp duty at INR 1,156 crores, GST at INR 975 crores, Income tax at INR 1,252 crores, and SEBI fees at INR 503 crores. These financial results underscore NSE’s strong financial performance and its pivotal role in India’s financial markets.
