NSE · Finance
National Stock Exchange of India reported revenue of ₹3,266 cr for July to September 2025, — on the year and — on the quarter.
Operating profit (EBITDA) was ₹1,090 cr, a margin of 33.4%, — on the year and — on the quarter.
Net profit was ₹1,858 cr, — on the year and — on the quarter, with earnings per share of ₹7.51.
Asset managers and brokers earn fees on assets and activity, so revenue follows market levels and flows; treasury income can lift other income in a good market quarter. The quarterly statements do not carry assets under management, flows and the yield on assets; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
An exceptional item is a large part of pre-tax profit. What was it?
Source: Results filing
Could not run on this quarter: Headline vs core profit, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Metric | Q2 FY26 |
|---|---|
| Market share | 93% |
| Cash Market ADTV (₹ crore) | 95,705 |
| Equity Futures ADTV (₹ crore) | 141,042 |
| Equity Options Premium ADTV (₹ crore) | 46,442 |
Read using the AMCs and capital market intermediaries framework (named in the filing read). Primary valuation lens: P/E against AUM growth and yield.
Read more closely in this sector: Treasury and float income inside profit · F&O share of revenue against regulatory change.
FinMinutes scored the offer document 76/100 before listing. 1 quarter of numbers since. Promise against delivery
| Q2 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|
| Revenue | ₹3,266 cr | ₹4,066 cr | ₹3,567 cr |
| YoY | — | — | +9% |
| EBITDA margin | 33.4% | 75.7% | 73.5% |
| Other income, % of PBT | 15% | 16% | 14% |
| Exceptional items | ₹1,363 cr | ₹30.9 cr | — |
| Tax rate | 32% | 25% | 25% |
| Net profit | ₹1,858 cr | ₹2,635 cr | ₹2,164 cr |
| YoY | — | — | +16% |
| Core profit YoY | — | — | +157% |
| EPS | ₹7.51 | ₹10.65 | ₹8.74 |
| Flags | 1 | · | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
National Stock Exchange of India reported revenue of ₹3,266 cr (— on the year) and net profit of ₹1,858 cr (— on the year) for July to September 2025.
1 check raised a question: An exceptional item is a large part of pre-tax profit. What was it?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.