NSE Q3 Results: Profit falls 37% YoY to Rs 2,408 crore

On a sequential basis, profit after tax rose 15%, while total income grew 6%

Operating EBITDA for the third quarter declined 16% YoY to Rs 2,851 crore, while declined to 73%. This was the first results by the company after it received Sebi’s NOC for an IPO.

The overall revenue growth during the quarter was hit by lower transaction charges, which fell 12% YoY to Rs 3,033 crore. Revenue from transactions, however, rose 9% quarter-on-quarter, led by a sequential increase in volumes across equity cash market and derivatives segments.

Revenue from data feed and terminal services jumped 17% YoY to Rs 121 crore, while revenue from listing services grew 11% YoY to Rs 111 crore.

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NSE recently received a no-objection from regulator Sebi to launch its IPO, marking an end to decade long wait for its offer approval from the regulator. The issue, which is likely to completely an OFS according to various reports, is likely to be launched in the next 7-8 months.

With regards to the IPO, the board is expected to form a specialised committee to serve as the central authority for the listing. This committee will be tasked with defining listing procedures and establishing the criteria for appointing the merchant bankers and legal advisors required to draft the Red Herring Prospectus (DRHP), PTI reported earlier.The proposed IPO is expected to be among the largest in India’s capital markets. NSE, which has about 1.77 lakh shareholders, is valued at over Rs 5 lakh crore in the grey market, according to various analysts.

NSE MD and CEO Ashish Chauhan had earlier described the approval as a positive signal.

“With Sebi approval, we embark on a new chapter of value creation for all our stakeholders. This approval also reinforces confidence in NSE being an integral part of the Indian economy and a beacon of Indian capital markets,” Srinivas Injeti, Chairperson, NSE had said earlier.