BSE Ltd Q2 Earnings: Shares of BSE Limited surged nearly 5 percent in early trade on Wednesday, November 12, 2025, as the Indian stock market witnessed a strong rise. This surge came after the exchange operator announced a 61 percent year-on-year increase in its consolidated net profit to ₹558 crore for the September quarter of FY26. Increased income from trading and platform services is believed to be the main reason behind this rise.
BSE Ltd Q2 Earnings BSE shares reached ₹2,770 in early morning trade, further expanding its 0.7 percent gain from the previous day. Over the past year, the stock has gained a staggering 78 percent. Brokerages have mixed views on the stock, with Jefferies maintaining a ‘buy’ rating and Goldman Sachs adopting a ‘neutral’ stance.
BSE Q2 Performance Report
BSE’s consolidated revenue grew 44 percent year-on-year to ₹1,068 crore. Meanwhile, EBITDA increased by 78 percent to ₹691 crore, boosting margins from 52.4 percent to 64.7 percent. The company attributed this growth to its trading segment, mutual fund platform, and other platform services. Net profit and revenue also improved quarterly.
BSE Ltd Q2 Earnings Brokerage View
Jefferies maintained a ‘buy’ rating on the stock on BSE and suggested a target price of ₹2,930. The brokerage said that 61 percent profit growth was in line with expectations. Jefferies also said that growth in index derivatives volumes and revenue offset the decline in the cash segment. The company’s policy of contributing 5 percent of derivatives revenue to the Settlement Guarantee Fund (SGF) was also lower than expected.
| Feature | Details |
|---|---|
| Company | BSE Ltd |
| Quarter | Q2 FY26 (September Quarter) |
| Net Profit | ₹558 crore, up 61% YoY |
| Revenue | ₹1,068 crore, up 44% YoY |
| EBITDA | ₹691 crore, up 78% YoY |
| EBITDA Margin | 64.7% (up from 52.4% YoY) |
| Stock Opening Price | ₹2,770 |
| 1-Year Stock Gain | ~78% |
| Key Growth Drivers | Trading segments, mutual fund platform, other platform services |
| Brokerage Views | Jefferies: Buy (Target ₹2,930), Goldman Sachs: Neutral (Target ₹2,460) |
| EPS | ₹13.6 (slightly above estimates) |
| Market Sentiment Drivers | Positive macro outlook, stable Q2 earnings, potential India-US trade deal, US government reopening, Bihar election exit polls |
Goldman Sachs, on the other hand, adopted a neutral stance on the stock and gave a target price of ₹2,460. The brokerage reported that BSE’s underlying EPS for the quarter was ₹13.6 crore, approximately 3 percent higher than expected. Operating revenue grew 12 percent quarterly and 44 percent year-on-year, while operating expenses increased 14 percent and 7 percent, respectively. Goldman Sachs stated that underlying profit after tax increased 6 percent quarterly and 62 percent year-on-year, slightly higher than expected.
BSE Ltd Q2 Earnings: Experts believe that BSE’s strong profit growth and increased activity on the platform are positive signs for investors. Investor confidence in the Indian stock market has also increased.
F&Q
Q1. What was BSE’s Q2 net profit?
A1. BSE’s Q2 net profit was ₹558 crore, a 61 percent increase year-on-year.
Q2. How much did BSE stock rise in early trading?
A2. BSE shares rose nearly 5 percent in early trade.
Q3. Which brokerages have given ratings to BSE shares?
A3. Jefferies has given a ‘buy’ rating, and Goldman Sachs has adopted a ‘neutral’ stance.
Q4. How much did BSE’s EBITDA margin increase?
A4. EBITDA margin increased from 52.4 percent to 64.7 percent.
Q5. What were the key drivers of BSE’s growth?
A5. The trading section, mutual fund platform, and other platform services were the key drivers.
Disclaimer: This article is for informational and news purposes only. Consult your financial advisor before investing.
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