The National Stock Exchange (NSE) has reported robust financial results for the first quarter of the fiscal year 2025, showcasing significant growth across various financial metrics.
Key Highlights
Total Revenue
NSE recorded a total revenue of ₹4,950 crores for Q1FY25, representing a 47% increase from the previous year's ₹3,357 crores. This remarkable growth highlights the exchange's strong performance and its ability to generate substantial revenue even in a dynamic market environment.
Operating Revenue
The operating revenue for the quarter stood at ₹4,510 crores, a 51% rise compared to ₹2,987 crores in the previous year. This increase underscores NSE's effective operational strategies and its dominant position in the market, with operating revenue accounting for 91% of the total revenue.
Expenses
Total expenses, excluding the Additional Contribution to Core SGF as advised by SEBI, amounted to ₹943 crores, a 17% increase from the previous year's ₹806 crores. Including the Additional Contribution to Core SGF, total expenses were ₹1,530 crores, a significant 79% rise from ₹856 crores in the previous year. Cash expenses within this total were ₹1,404 crores, up from ₹753 crores. The increase in expenses was mainly driven by:
- Additional Contribution to Core SGF: ₹537 crores
- Regulatory Fees: ₹83 crores
Operating EBITDA
NSE's operating EBITDA performance was noteworthy:
- Without Additional Contribution to Core SGF: EBITDA margin stood at 82%, with an absolute value of ₹3,693 crores, up from 76% (₹2,285 crores) in the previous year.
- With Additional Contribution to Core SGF: EBITDA margin was 69%, totaling ₹3,106 crores, compared to 75% (₹2,234 crores) in the previous year.
Share of Profit of Associates
NSE's share of profit from associates increased to ₹25 crores from ₹23 crores in the previous year.
Effect of Discontinued Operations
The net effect of discontinued operations, after tax, was a reduction of ₹28.93 crores.
Profit After Tax
Profit after tax (PAT) rose by 52% to ₹2,567 crores, compared to ₹1,844 crores in the previous year, demonstrating strong profitability.
Earnings Per Share
Earnings per share (EPS) for the quarter stood at ₹51.86, reflecting the company's solid earnings performance.
Net Worth and Book Value
As of March 31, 2024, NSE's net worth was ₹26,546 crores, up from ₹23,974 crores. The book value per share increased to ₹536, compared to ₹484 in the previous year.
Return on Equity
Return on equity (ROE) was 41%, an improvement from 37% as of March 31, 2024, indicating enhanced shareholder value.
Revenue Drivers
The key revenue drivers for the quarter included:
Listing Services
Revenue from listing services (including listing, book building, and processing fees) was ₹67 crores, up from ₹45 crores in the previous year.
Data Centre and Connectivity Charges
Revenue from data centre and connectivity charges increased to ₹260 crores from ₹194 crores, with racks contributing ₹32 crores (up from ₹28 crores) and connectivity charges at ₹228 crores (up from ₹166 crores).
Treasury Income
Treasury income rose to ₹340 crores from ₹303 crores, with operating treasury income contributing ₹20 crores.
Transaction Charges
Transaction charges experienced a significant increase of 44%, reaching ₹3,623 crores, up from ₹2,525 crores, contributing an additional ₹1,098 crores.
NSE's Q1FY25 results reflect its strong market position, operational excellence, and the ability to generate substantial revenue and profitability growth. The exchange continues to demonstrate resilience and adaptability in a competitive and evolving market landscape.
