MUMBAI: India’s two leading stock exchanges – the National Stock Exchange (NSE) and BSE Ltd – posted strong results for FY25, riding high on a boom in trading activity, particularly in the derivatives segment.
The NSE reported a consolidated net profit of Rs12,188 crore for the financial year, a 47 per cent year-on-year (YoY) jump, while the BSE’s Q4 net profit surged nearly fivefold to Rs494 crore.
Both exchanges also announced hefty dividends, with NSE recommending Rs35 per share, including a one-time payout, and BSE declaring Rs23 per share, inclusive of a Rs5 special dividend.
A key highlight of NSE’s earnings was its contribution of Rs59,798 crore to the exchequer, with Rs48,439 crore coming from Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT) collections.
Notably, 42 per cent of this STT/CTT haul originated from derivatives trading, underlining the growing dominance of this segment in India’s equity market ecosystem. The remaining 58 per cent came from the cash segment.
For FY25, NSE’s consolidated income rose 17 per cent YoY to Rs19,177 crore, while operating EBITDA grew 28 per cent to Rs12,647 crore.
NSE profit
On a standalone basis, net profit soared 69 per cent to Rs11,246 crore, and revenue rose 33 per cent to Rs19,823 crore.
However, the exchange witnessed a sequential dip in Q4. Net profit declined 31 per cent quarter-on-quarter to Rs2,650 crore, while revenue from transaction charges fell 15 per cent due to reduced trading volumes.
Average daily traded value (ADTV) in the cash segment dropped 8 per cent QoQ, and futures and options volumes declined 6 per cent and 17 per cent, respectively.
BSE revenue soars
Meanwhile, the BSE posted stellar results for the March quarter (Q4FY25), with revenue rising 75 per cent YoY to Rs846.6 crore.
The exchange reported a net profit ofRs494 crore, up from Rs107 crore a year earlier, driven by strong performance in its equity and derivatives segments.
For Q3FY25, BSE had posted a net profit of Rs220 crore and revenue of Rs835 crore, with average daily turnover reaching Rs6,800 crore.
The record date for BSE’s final dividend is set for May 14, and the payout is expected by September 18.
With derivatives trading emerging as a revenue powerhouse – both in terms of operational earnings and fiscal contributions – Indian stock exchanges are positioning themselves as central hubs in the global financial trading landscape.
