(THE NEWSMAN OF INDIA.COM) NSE, India’s leading exchange, reported a consolidated total income of Rs 4,807 crores for Q3FY25, as against Rs 5,023 crores in Q2FY25 and Rs 3,974 crores in the corresponding quarter of last year.
The consolidated revenue from transaction charges for Q3FY25 was Rs 3,445 crores, a sequential decline of 4% QoQ due to a reduction in volumes across cash market and derivatives segment. On a consolidated basis, total expenditure in Q3FY25 declined by 17% QoQ to Rs 1,084 crores.
On a consolidated basis, the operating EBITDA increased by 2% QoQ to Rs 3,398 crores. Net profit increased by 22% QoQ to Rs 3,834 crores in Q3FY25 from Rs 3,137 crores in Q2FY25. Earnings per share (non-annualized) increased to Rs 15.49 in Q3FY25 from Rs 12.68 in Q2FY25, after considering the issuance of bonus equity shares in the ratio of 4:1.
Excluding the gains from sale of investment in subsidiaries / associate and the impact of expenses related to SEBI settlement fees as well as reversal of provision for core SGF recorded in the previous quarter, the normalized consolidated profit before tax in Q3FY25 declined by 3% QoQ to Rs 3,770 crores.

For the nine months ended December 31, 2024, the consolidated total income grew by 30% YoY to Rs 14,780 crores and net profit for 9MFY25 was Rs 9,538 crores. Earnings per share (non-annualized) in 9MFY25 increased to Rs 38.54 from Rs 23.51 in 9MFY24, after considering the issuance of bonus equity shares in the ratio of 4:1.
On a standalone basis, NSE’s total income in Q3FY25 stood at Rs 4,289 crores as compared to Rs 5,297 crores in Q2FY25 and Rs 3,452 crores in the corresponding quarter of last fiscal year. The revenue from operations in Q3FY25 stood at Rs 3,945 crores, a sequential decline of 2% QoQ, due to a reduction in trading volumes across cash market and derivatives segment.
In Q3FY25, the cash market trading segment recorded an average daily traded volume (ADTVs) of Rs 1,04,115 crores (decline of 19% QoQ). The ADTV for equity futures segment in Q3FY25 stood at Rs 1,71,825 crores (decline of 15% QoQ); while the ADTV for equity options (premium value) stood at Rs 61,295 crores (decline of 7% QoQ).
On a standalone basis, the operating EBITDA grew by 8% QoQ to Rs 2,807 crores in Q3FY25 due to a sequential reduction in expenditure. Net profit stood at Rs 2,291 crores in Q3FY25 as compared to Rs 2,954 crores in Q2FY25; net profit margin was 53% in Q3FY25.

For the 9MFY25 period, the standalone total income stood at Rs 13,964 crores of which operating revenue was Rs 12,038 crores. Operating EBITDA was Rs 7,799 crores and net profit was Rs 7,205 crores during the same period.
In the 9MFY25 period, NSE’s contribution to the exchequer was Rs 45,499 crores which comprised STT/CTT of Rs 37,271 crores, stamp duty of Rs 2,976 crores, SEBI fees of Rs 1,613 crores, income tax of Rs 2,173 crores and GST of Rs 1,466 crores. Out of the STT/CTT of Rs 37,271 crores, 61% is from the cash market segment and 39% is from the equity derivatives segment.