National Stock Exchange announced its Q1 FY25 results - Spectacular start to the year

The National Stock Exchange of India (NSE) reported significant financial and operational growth in the Q1 FY25. The consolidated operating revenue surged by 51% year-on-year (y-o-y) to ₹4,510 Cr. This growth was driven by various revenue streams, including trading revenue, data center & connectivity charges, clearing services, listing services, index services, and data services. On the bottom line, NSE's consolidated profit increased by 39% (y-o-y), reaching ₹2,567 Cr, with a net profit margin of 52%.

Trading volumes also saw a notable rise, with the cash markets recording an average daily traded volume (ADTV) of ₹1,22,872 Cr, up 110% (y-o-y). Equity futures and equity options (premium value) also grew substantially, with ADTVs of ₹2,09,279 Cr and ₹71,957 Cr, respectively.

Operational expenses on a standalone basis for Q1 FY25 amounted to ₹1,762 crores, reflecting a significant increase due to contributions towards the Core Settlement Guarantee Fund (SGF) and SEBI regulatory fees. NSE made an additional provision of ₹587 crores to augment the Core SGF corpus, bringing it to ₹9,726 crores. Despite higher expenses, NSE maintained a strong operating EBITDA margin of 59% for Q1 FY25, though slightly lower than the 69% reported in the same period last year.