India's NSE posts 23% rise in quarterly profit in first results since listing

India’s National Stock Exchange (NSE) reported a 23% year-on-year increase in consolidated second-quarter profit, reaching 25.78 billion rupees, in its first results since its September listing. Business Recorder reported that operating revenue also climbed, from 36.77 billion rupees to 40.67 billion rupees.

Trading activity was stronger in the quarter to September 30: average daily cash-market volume grew 24%, while currency derivatives volume was up 150%. The exchange has faced pressure on transaction income amid tighter rules and higher taxes, and rival BSE has gained ground in index options. NSE had also booked a 12.97 billion rupee provision for regulatory cases in the prior year, alongside a 12.01 billion rupee gain from selling stakes in associates.