NSE Q2 FY24 profit surges 13%, revenue up 24%
₹1999 crore on revenues of ₹3652 crore, a 24% rise, in the second quarter of the current fiscal year (FY24). The net profit margin for Q2 FY24 stood at 50%. 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.
On a consolidated basis, earnings per share increased to ₹40.38 in Q2 FY 24 from ₹35.83 in Q2 FY23. At around ₹3000 per share in the unlisted market, the price-to-earnings multiple works out to around 74 times against 94 times for its listed peer BSE. On the trading volumes front, cash markets recorded an average daily traded volumes (ADTVs) of ₹77,757 crores (up 40% YoY) while the equity futures reached an ADTV of ₹1,23,019 crores (up 4% YoY) and equity options (premium value) ADTVs stood at ₹60,621 crores (up 33% YoY).
On a standalone basis, the bourse incurred total expenses of ₹1,623 crore, which grew by 135% on a year-on-year basis. Almost half of these expenses amounting to ₹804 crore, are towards SEBI Turnover Fees, Contribution to IPFT and Contribution to Core SGF. IPFT stands for Investor Protection Fund Trust and SGF for Settlement Guarantee Fund, which means zero settlement default risk.
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 FY 24, it contributed ₹18,744 crore to the exchequer, which comprised securities transaction taxes of STT ₹14,858 crore, stamp duty ₹1,156 crore, GST ₹975 crore, income tax ₹1,252 crore and SEBI ₹503 crores. NSE is the world’s largest derivatives exchange by trading volume (contracts) as per
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