NSE Q4 Profit Slumps 31% QoQ Amid Lower Trading Volumes NSE's consolidated total income for Q4FY25 was INR 4,397 crore, falling from INR 4,807 crore in Q3FY25 and INR 5,080 crore in the same quarter last year
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The National Stock Exchange of India (NSE) reported a 31 per cent quarter-on-quarter (QoQ) decline in its consolidated net profit for the fourth quarter of FY25, dragged down by reduced trading volumes across both cash and derivatives segments. According to a press release issued by NSE, the consolidated net profit stood at INR 2,650 crore for the January–March period, down from INR 3,834 crore in the previous quarter.
NSE's consolidated total income for Q4FY25 was INR 4,397 crore, falling from INR 4,807 crore in Q3FY25 and INR 5,080 crore in the same quarter last year. Transaction revenue, which makes up a significant portion of the exchange's earnings, dipped 15 per cent sequentially to INR 2,939 crore. The decline was attributed to subdued activity in both cash market and derivatives trading.
Total expenditure on a consolidated basis rose 4 per cent QoQ to INR 1,124 crore, while operating EBITDA fell 18 per cent to INR 2,799 crore. Excluding exceptional gains from the sale of investments in subsidiaries and associates, the normalized profit before tax dropped 12 per cent to INR 3,299 crore.
Despite the weak quarterly results, NSE ended the fiscal year on a strong note. For FY25, consolidated total income rose 17 per cent year-on-year (YoY) to INR 19,177 crore, with net profit climbing 47 per cent YoY to INR 12,188 crore. Operating EBITDA jumped 28 per cent YoY to INR 12,647 crore, and earnings per share for the year improved to INR 49.24 from INR 33.56 in FY24, factoring in a 4:1 bonus share issuance.
On a standalone basis, Q4FY25 income rose to INR 5,860 crore from INR 4,289 crore in Q3FY25. However, revenue from operations declined 14 per cent QoQ to INR 3,395 crore due to weaker market activity. Average daily traded volumes dropped across the board: cash segment volumes were down 8 per cent QoQ to INR 95,488 crore, equity futures fell 6 per cent to INR 1,60,709 crore, and equity options (premium value) declined 17 per cent to INR 50,935 crore.
Standalone net profit for Q4FY25 surged to INR 4,040 crore from INR 2,291 crore in Q3FY25, driven in part by dividends from subsidiaries, with a net profit margin of 69 per cent. For the full fiscal year, standalone net profit grew 69 per cent YoY to INR 11,246 crore.
The NSE Board has proposed a final dividend of INR 35 per equity share for FY25, including a one-time special dividend of INR 11.46, subject to shareholder approval.
During FY25, NSE contributed INR 59,798 crore to the exchequer, including INR 48,439 crore in Securities and Commodities Transaction Tax (STT/CTT), of which 58 per cent came from the cash segment and 42 per cent from derivatives.
