Leading stock exchange NSE on Friday reported a 37 per cent year-on-year decline in consolidated profit after tax at Rs 2,408 crore in the quarter ended December 2025.
The exchange had posted a PAT (profit after tax) of Rs 3,834 crore in the corresponding period last year.
Total income for the October-December quarter of FY26 fell 9 per cent to Rs 4,395 crore, from Rs 4,807 crore in the year-ago period, NSE said in a statement.
3 February 2026
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On a quarter-on-quarter basis, the country's largest bourse's PAT in Q3FY26 increased 15 per cent, while total income rose 6 per cent, indicating a sequential improvement in performance.
These were the company's first set of financial results after receiving markets regulator Sebi's no-objection certificate (NOC) for its proposed IPO.
During the nine months ended December 2025, NSE's total contribution to the exchequer stood at Rs 41,842 crore, comprising Securities Transaction Tax and Commodities Transaction Tax (STT/CTT) of Rs 34,835 crore, stamp duty of Rs 2,472 crore, income tax of Rs 2,414 crore, goods and services tax (GST) of Rs 1,376 crore, and Sebi fees of Rs 745 crore.
Of the total STT/CTT collected, 49 per cent was generated from the cash market (delivery-based) segment, 7 per cent from the cash market (intraday) segment, and the remaining 44 per cent from the equity derivatives segment.
For the nine months ended December 2025, NSE's total income declined 22 per cent year-on-year to Rs 7,431 crore, while profit after tax fell 10 per cent to Rs 13,354 crore.
Last Friday, Sebi granted an NOC to NSE, clearing the way for the exchange to move ahead with its long-awaited initial public offering (IPO) after nearly a decade of delays triggered by regulatory concerns and the co-location controversy.
NSE has had its listing plans on hold since 2016, when NSE first filed draft offer documents to raise around Rs 10,000 crore through an offer for sale by existing shareholders.
Sebi had withheld approval at the time due to concerns related to governance lapses and the co-location case, prompting NSE to approach the regulator on multiple occasions over the years seeking clearance.
