India’s NSE and MCX Report Strong Profits as Trading Volumes Jump
India’s two leading exchanges reported strong profits for the September quarter of 2026, as more trading activity flowed through their platforms. The National Stock Exchange of India, known as NSE, said profit rose 23 percent from a year earlier, while the Multi Commodity Exchange of India, known as MCX, said profit more than doubled.
What happened
NSE reported consolidated profit after tax of Rs 2,578 crore for the second quarter of the 2026-27 financial year, up 23 percent from Rs 2,098 crore in the same quarter last year. Revenue from operations grew 10.6 percent to Rs 4,066.8 crore, and operating EBITDA more than doubled to Rs 3,079 crore.
The year ago profit was lowered by a Rs 1,297 crore provision for a SEBI settlement, which makes this year’s comparison look stronger. Even so, the exchange pointed to higher cash market activity and derivatives trading, with cash market average daily traded value of Rs 118,377 crore, up 24 percent from a year earlier. These were NSE’s first quarterly results since its stock market listing in September 2026, as reported by The Hindu BusinessLine and Outlook Money on November 4, 2026.
MCX reported consolidated net profit of Rs 454.57 crore, up 130 percent from Rs 197.47 crore a year earlier. Total income surged to Rs 799.66 crore from Rs 374.23 crore, helped by a sharp rise in trading volumes, including futures and options trading. MCX runs India’s largest commodity derivatives exchange, where traders buy and sell contracts linked to gold, silver, crude oil, and other commodities.
The results put capital market stocks in focus on November 4, 2026. The same Outlook Money report noted that shares of exchanges and related companies were being watched closely, even though MCX shares fell about 5 percent on the day despite the profit jump, while NSE shares were broadly flat. That is a useful reminder that a strong profit report does not always mean the share price rises on the same day.
Why it matters for beginners
A stock exchange is a marketplace, not a company that makes or sells a physical product. It earns money mainly from fees when people trade shares, derivatives, or commodities on its platform. When trading volumes rise, fee income usually rises too. That is why exchange profits can be a simple window into how busy a country’s markets are.
NSE is India’s largest stock exchange, handling shares and derivatives. MCX handles commodity contracts, which are agreements to buy or sell a commodity at a set price in the future. Both reported stronger results in the same quarter, which points to broad trading interest rather than a single product doing well.
This story also connects to our earlier post on India’s capital gains tax proposals, because changes to tax rules can affect how much investors trade. When trading rules, tax rules, or market confidence change, exchange volumes often change first, and exchange earnings show that change in plain numbers.
What to watch next
Watch whether trading volumes stay high in the current quarter, or whether they cool after the strong September quarter. Also watch the results due from other capital market companies, including BSE, which was scheduled to report on November 4, 2026, and the next update on SEBI’s capital gains tax proposals, which could affect foreign and domestic investors.
For MCX, watch commodity trading volumes in particular. A sharp rise in volumes helped this quarter, so a fall in volumes would be the first sign that the profit jump may not repeat at the same pace.
FAQ
What is NSE?
NSE is India’s National Stock Exchange, the country’s largest stock exchange, where shares and derivatives are traded.
What is MCX?
MCX is India’s Multi Commodity Exchange, a platform for trading commodity derivatives linked to items such as gold, silver, and crude oil.
How much did their profits rise?
NSE profit rose 23 percent to Rs 2,578 crore, while MCX profit rose 130 percent to Rs 454.57 crore, both compared with the same quarter last year.
Why did MCX shares fall even though profit doubled?
Share prices move on expectations as well as results. If investors already expected a strong result, or if they focus on the outlook rather than the past quarter, a stock can fall even after a good profit report.
What does EBITDA mean in simple terms?
EBITDA is a measure of operating profit before interest, tax, depreciation, and amortisation. It is often used to compare how a core business is performing, before financing and accounting costs.
