NSENational Stock Exchange Of India Ltd.
National Stock Exchange of India Q2 FY27 Results: Consolidated Net Profit ₹2,578 Crore on Total Income of ₹4,554 Crore
- Earnings
- stock exchange
Reviewed byRachit TripathiBlacklitt Research
In a filing on 3 Nov 2026, National Stock Exchange of India (NSE) reported consolidated total income of ₹4,554.46 crore and net profit of ₹2,577.62 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹3,955.59 crore and standalone net profit was ₹2,163.58 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹4,554.46 crore, up 9.5% YoY and down 13.3% QoQ
- Net profit: ₹2,577.62 crore, up 22.8% YoY and down 17.4% QoQ
- EPS: ₹10.41 basic, against ₹12.61 in the quarter ended 30 Jun 2026
- Other income: ₹487.66 crore, 10.7% of total income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹3,955.59 crore, up 7.9% YoY and down 14.2% QoQ
- Net profit: ₹2,163.58 crore, up 16.5% YoY and down 17.9% QoQ
- Profit before tax: ₹2,873.48 crore, up 5.3% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 4,554.46 | 4,160.31 | +9.5% | 5,252.17 | -13.3% | |
| Revenue from operations | 4,066.80 | 3,676.80 | +10.6% | 4,560.41 | -10.8% |
| Other income | 487.66 | 483.51 | +0.9% | 691.76 | -29.5% |
| 2,577.62 | 2,098.47 | +22.8% | 3,120.08 | -17.4% | |
| Profit before tax | 3,424.52 | 3,038.00 | +12.7% | 4,169.48 | -17.9% |
| Depreciation | 173.88 | 161.33 | +7.8% | 162.55 | +7.0% |
| Tax expense | 848.63 | 942.38 | -9.9% | 1,047.60 | -19.0% |
| Net profit margin | 56.60% | 50.44% | +6.16 pp | 59.41% | -2.81 pp |
| EPS, basic (₹) | 10.41 | n/a | n/a | 12.61 | -17.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Total income of ₹4,554.46 crore was 9.5% above the ₹4,160.31 crore of a year earlier and 13.3% below the ₹5,252.17 crore of the quarter ended 30 Jun 2026.
Revenue from operations rose 10.6% to ₹4,066.80 crore, faster than other income, which rose 0.9% to ₹487.66 crore. Other income is 10.7% of total income this quarter.
Net profit rose 22.8% to ₹2,577.62 crore, faster than profit before tax, which rose 12.7% to ₹3,424.52 crore. Tax expense fell 9.9% to ₹848.63 crore, which is 24.8% of profit before tax. Net profit includes ₹1.73 crore from discontinued operations, the education business under NAL Academy Limited.
The year-earlier base includes an exceptional item. Profit before tax of ₹3,038.00 crore in the quarter ended 30 Sep 2025 includes a pre-tax gain of ₹1,200.94 crore on the sale of a 9% stake in National Securities Depository, which the filing shows as an exceptional item; before exceptional items that quarter's profit before tax was ₹1,837.06 crore. The quarter ended 30 Jun 2026 carried a ₹48.32 crore reversal under the New Labour Codes, also shown as an exceptional item.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 3,955.59 | 3,666.32 | +7.9% | 4,612.79 | -14.2% | |
| Revenue from operations | 3,567.04 | 3,266.06 | +9.2% | 4,066.47 | -12.3% |
| Other income | 388.55 | 400.26 | -2.9% | 546.32 | -28.9% |
| 2,163.58 | 1,857.88 | +16.5% | 2,634.79 | -17.9% | |
| Profit before tax | 2,873.48 | 2,729.25 | +5.3% | 3,524.20 | -18.5% |
| Depreciation | 136.96 | 123.62 | +10.8% | 126.13 | +8.6% |
| Tax expense | 709.90 | 871.37 | -18.5% | 889.41 | -20.2% |
| Net profit margin | 54.70% | 50.67% | +4.02 pp | 57.12% | -2.42 pp |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income rose 7.9% to ₹3,955.59 crore. Revenue from operations rose 9.2% to ₹3,567.04 crore, while other income fell 2.9% to ₹388.55 crore.
Net profit rose 16.5% to ₹2,163.58 crore, faster than profit before tax, which rose 5.3% to ₹2,873.48 crore. Tax expense fell 18.5% to ₹709.90 crore.
The quarter ended 30 Jun 2026 carried a ₹30.90 crore reversal under the New Labour Codes, shown as an exceptional item.
Inference
The board approved on 3 Nov 2026 the divestment of up to 40% of National Coal Exchange of India Limited, a wholly-owned subsidiary, through secondary sale of equity shares in one or more tranches. The filing says further disclosures will follow when the terms are finalised. The buyer, price and timing are not stated.
The company's equity shares were listed on BSE Limited on 24 Sep 2026 after an offer for sale of 12,64,36,650 shares at ₹1,785 a share, aggregating ₹22,562.71 crore. The filing says the sale proceeds, net of issue expenses, go to the selling shareholders, and that 3,66,592 shares were issued to eligible employees at a discount of ₹170 a share.
On the SEBI matters, the company says it filed revised settlement terms for a cumulative ₹1,491.21 crore on 13 Mar 2026 and paid ₹14.74 crore to SEBI on 31 Jul 2026 under the settlement terms. The Supreme Court disposed of the Dark Fibre appeals on 3 Sep 2026 and the Colocation appeals on 18 Sep 2026.
Filed with BSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
