National Stock Exchange (NSE), India’s leading stock exchange, has reported double digit growth in its top and bottom line in the second quarter ended September 30, 2023. The Mumbai-based company posted a 13% year-on-year (YoY) growth in its consolidated net profit at ₹1,999 crore in Q2 FY24. The net profit margins for the quarter stood at 50%.

The consolidated revenue from operations was at ₹3,652 crore for Q2 FY24, up by 24% on a year-on-year basis. Apart from trading revenue, the revenue from operations was also supported by other revenue lines, which include clearing services, listing services, index services, data services and colocation services, NSE said in a release.

On a consolidated basis, earnings per share increased to ₹40.38 in Q2 FY24 from ₹35.83 in Q2 FY23.

On the trading volumes front, cash markets recorded an average daily traded volumes (ADTVs) of ₹77,757 crore, up 40% YoY, while the equity futures reached an ADTV of ₹1,23,019 crore, registering a YoY growth of 4%. The equity options (premium value) ADTVs was at ₹60,621 crore, up 33% YoY.

On a standalone basis, NSE reported total operating income of ₹3,386 crore, posting a growth of 22% on a year-on-year basis which was ₹2,770 crore for the corresponding quarter last year. The net profit was ₹1,562 crore for Q2 FY24, showing an increase of 2% on a year-on-year basis which was ₹1,535 crore for the corresponding quarter last year. Net standalone profit margin stood at 42%.

 The standalone total expenses rose to ₹1,623 crore, up 135% on a year-on-year basis. Almost 50% of these expenses amounting to ₹804 crore were towards SEBI turnover fees, contribution to Investor Protection Fund Trust (IPFT), and contribution to core Settlement Guarantee Fund (SGF).

At the operating EBITDA level, NSE on a standalone basis posted an EBITDA margin of 54% for Q2 FY24 compared to 78% in the corresponding quarter last year.

During the first half of FY24, NSE contributed ₹18,744 crore to the exchequer which comprised of Securities Transaction Tax (STT) ₹14,858 crore, stamp duty ₹1,156 crore, GST ₹975 crore, income tax ₹1,252 crore, and SEBI ₹503 crore.

NSE is the world’s largest derivatives exchange by trading volume (contracts) as per the statistics maintained by Futures Industry Association (FIA) for calendar year 2022. It is also ranked 3rd in the world in the cash equities by number of trades as per the statistics maintained by the World Federation of Exchanges (WFE) for calendar year 2022. NSE’s business model comprises exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings. It also oversees compliance by trading, clearing members and listed companies with the rules and regulations of SEBI and the exchange.

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