(THE NEWSMAN OF INDIA.COM)
Mumbai, May 6, 2025: The National Stock Exchange of India (NSE) has reported its highest-ever annual financial performance for the fiscal year ended March 31, 2025, despite a challenging final quarter. NSE posted a consolidated net profit of Rs 12,188 crore for FY25, marking a robust 47% year-on-year (YoY) growth, driven by sustained revenue expansion and operational efficiency.

The Board of Directors has recommended a final dividend of Rs 35 per equity share (face value Rs 1) for FY25, including a one-time special dividend of Rs 11.46, subject to shareholder approval at the upcoming AGM.

Strong Annual Growth Across Financial Metrics

For FY25, consolidated total income rose 17% YoY to Rs 19,177 crore, while consolidated operating EBITDA jumped 28% YoY to Rs 12,647 crore. The normalized consolidated profit before tax (PBT), after excluding one-time items such as gains from subsidiary divestments, SEBI settlement costs, and contributions to the Settlement Guarantee Fund (SGF), stood at Rs 14,895 crore—reflecting a 17% YoY rise.

Earnings per share (EPS) for the year increased to Rs 49.24 from Rs 33.56 in FY24, factoring in a 4:1 bonus share issuance.

On a standalone basis, NSE reported a 33% YoY increase in total income to Rs 19,823 crore for FY25, with net profit surging 69% YoY to Rs 11,246 crore. Operating revenue stood at Rs 15,433 crore, and operating EBITDA rose 33% to Rs 10,243 crore. Normalized standalone PBT grew by 19% YoY to Rs 12,012 crore.

Q4FY25 Shows Sequential Weakness Amid Volume Slowdown

In the fourth quarter (Q4FY25), NSE’s consolidated total income stood at Rs 4,397 crore, down from Rs 4,807 crore in Q3FY25 and Rs 5,080 crore in the same quarter last year. The quarter saw a 31% quarter-on-quarter (QoQ) drop in net profit to Rs 2,650 crore, reflecting weaker market volumes, especially in derivatives and cash segments.

Consolidated revenue from transaction charges was Rs 2,939 crore, down 15% QoQ, driven by reduced trading activity. On a consolidated basis, operating EBITDA declined 18% QoQ to Rs 2,799 crore, while net profit margin narrowed to 60% from 80% in Q3.

On a standalone level, NSE posted total income of Rs 5,860 crore for Q4FY25, up from Rs 4,289 crore in Q3. However, revenue from operations fell 14% QoQ to Rs 3,395 crore. Despite this, standalone net profit for the quarter came in at Rs 4,040 crore, with a net profit margin of 69%.

The average daily traded volumes (ADTVs) in Q4FY25 declined across key segments—cash market ADTV fell 8% QoQ to Rs 95,488 crore; equity futures by 6% to Rs 1,60,709 crore; and equity options (premium value) by 17% to Rs 50,935 crore.

Significant Contribution to the Exchequer

NSE’s contribution to the national exchequer for FY25 amounted to Rs 59,798 crore, which included:

•STT/CTT:Rs 48,439 crore (58% from cash market, 42% from derivatives)
•Income Tax: Rs 3,831 crore
•Stamp Duty: Rs 3,772 crore
•SEBI Fees and GST: Rs 1,952 crore

Looking Ahead

Despite a muted Q4, NSE’s strong full-year results underscore its dominant position in India’s capital markets. The recommended Rs 35 dividend is a reflection of its solid earnings base, prudent capital allocation, and investor-friendly approach.