- Consolidated total income for Q4FY25 stood at ₹ 4,397 crores
- Consolidated profit for Q4FY25 was ₹ 2,650 crores
- Consolidated total income for FY25 grew by 17% YoY to ₹ 19,177 crores
- Consolidated profit for FY25 grew by 47% YoY to ₹ 12,188 crores
- The Board of NSE has recommended a dividend of ₹ 35 per share for FY25, subject to shareholders approval
- Contribution to the exchequer in FY25 was ₹ 59,798 crores
INDIA: NSE, India’s leading exchange, reported a consolidated total income of ₹ 4,397 crore for Q4FY25, as against ₹ 4,807 crores for Q3FY25 and ₹ 5,080 crores for the corresponding quarter of last year.
The consolidated revenue from transaction charges for Q4FY25 was ₹ 2,939 crores, a sequential decline of 15% QoQ due to a reduction in volumes across the cash market and derivatives segment.
On a consolidated basis, total expenditure for Q4FY25 increased by 4% QoQ to ₹ 1,124 crores.
On a consolidated basis, the operating EBITDA decreased by 18% QoQ to ₹ 2,799 crores. Excluding the gains from the sale of investments in subsidiaries/associates, the normalized consolidated profit before tax for Q4FY25 declined by 12% QoQ to ₹ 3,299 crores.
Net profit decreased by 31% QoQ to ₹ 2,650 crores for Q4FY25 from ₹ 3,834 crores for Q3FY25. Earnings per share (on a non-annualized basis) for Q4FY25 were ₹ 10.71 as compared to ₹ 15.49 for Q3FY25.
For the financial year ended March 31, 2025, the consolidated total income increased by 17% YoY to ₹ 19,177 crores. The consolidated operating EBITDA for FY25 increased by 28% YoY to ₹ 12,647 crores.
Excluding the gains from the sale of investments in subsidiaries/associates, impact of SEBI settlement fees, and contribution to core Settlement Guarantee Fund (SGF), the normalized consolidated profit before tax for FY25 increased by 17% YoY to ₹ 14,895 crores.
Net profit for FY25, on a consolidated basis, increased by 47% YoY to ₹ 12,188 crores. Earnings per share for FY25 increased to ₹ 49.24 from ₹ 33.56 for FY24, after considering the issuance of bonus equity shares in the ratio of 4:1.
On a standalone basis, NSE’s total income for Q4FY25 stood at ₹ 5,860 crores as compared to ₹ 4,289 crores for Q3FY25 and ₹ 4,468 crores for the corresponding quarter of last fiscal year. The revenue from operations for Q4FY25 stood at ₹ 3,395 crores, a sequential decline of 14% QoQ, due to a reduction in trading volumes across the cash market and derivatives segment.
In Q4FY25, the cash market trading segment recorded an average daily traded volume (ADTV) of ₹ 95,488 crores (decline of 8% QoQ). The ADTV for the equity futures segment in Q4FY25 stood at ₹ 1,60,709 crores (decline of 6% QoQ), while the ADTV for equity options (premium value) stood at ₹ 50,935 crores (decline of 17% QoQ).
On a standalone basis, the operating EBITDA fell by 13% QoQ to ₹ 2,444 crores for Q4FY25 from ₹ 2,807 crores for Q3FY25. The normalized standalone profit before tax for Q4FY25, excluding the subsidiary dividend, declined 8% QoQ to ₹ 2,810 crores.
Net profit for Q4FY25 was ₹ 4,040 crores as compared to ₹ 2,291 crores for Q3FY25; net profit margin was 69% in Q4FY25.
For the FY25 period, the standalone total income increased by 33% YoY to ₹ 19,823 crores, of which operating revenue was ₹ 15,433 crores. Operating EBITDA increased by 33% YoY to ₹ 10,243 crores during the same period. The normalized standalone profit before tax for FY25, excluding the subsidiary dividend, SEBI settlement fees, and contribution to core SGF, increased 19% YoY to ₹ 12,012 crores.
The standalone net profit during FY25 increased by 69% YoY to ₹ 11,246 crores.
The Board of Directors of NSE, in their meeting held on May 6, 2025, have recommended a final dividend of ₹ 35 per equity share of ₹ 1 each (3500%) for the year ended March 31, 2025, subject to approval of the shareholders at the ensuing Annual General Meeting. This includes a special one-time dividend of ₹ 11.46 per equity share.
In the FY25 period, NSE’s contribution to the exchequer was ₹ 59,798 crores, which comprised STT/CTT of ₹ 48,439 crores, stamp duty of ₹ 3,772 crores, SEBI fees of ₹ 1,804 crores, income tax of ₹ 3,831 crores, and GST of ₹ 1952 crores. Out of the STT/CTT of ₹ 48,439 crores, 58% is from the cash market segment and 42% is from the equity derivatives segment.
| Consolidated Financial Performance (In ₹ crores) | Q4 | Q3 | Q4 | Growth | Growth | Growth | ||
| FY25 | FY25 | FY24 | QoQ% | YoY % | FY25 | FY24 | YoY % | |
| Total Income | 4,397 | 4,807 | 5,080 | (9%) | (13%) | 19,177 | 16,434 | 17% |
| Revenue from operations | 3,771 | 4,349 | 4,625 | (13%) | (18%) | 17,141 | 14,780 | 16% |
| Total Expenses (incl. contribution to core SGF) | 1,124 | 1,084 | 1,705 | 4% | (34%) | 5,040 | 5,350 | (6%) |
| Operating EBITDA | 2,799 | 3,398 | 3,036 | (18%) | (8%) | 12,647 | 9,870 | 28% |
| Operating EBITDA Margin (%) | 74% | 78% | 66% | 74% | 67% | |||
| Share of profit of associates | 38 | 37 | 22 | 3% | 71% | 129 | 101 | 28% |
| Profit on the sale of an investment in an associate | 55 | 1,155 | – | (95%) | N/A | 1,209 | – | N/A |
| Effect of discontinued operations (net of tax) | 183 | 18 | (12) | 906% | N/A | 582 | (101) | N/A |
| Profit After Tax | 2,650 | 3,834 | 2,488 | (31%) | 7% | 12,188 | 8,306 | 47% |
| Earnings Per Share (EPS) (FV: ₹ 1) (in ₹) | 10.71* | 15.49* | 10.05* | 49.24 | 33.56 |
*Quarterly EPS not annualized; after considering the issue of bonus equity shares in the ratio of 4:1