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MCX Posts 23% YoY Increase in Operating Income

Posted On: 2018-07-20 18:14:23

Multi Commodity Exchange of India Limited (MCX), India's No.1 commodity exchange, announced its financial results for Quarter ended June 30, 2018.

Quarter 1, FY 2018-19 results

- Operating income registered a growth of 23% to Rs. 72.87 crore from Rs. 59.19 crore on corresponding 01 FY2018.

- EBITDA decreased by 8% to Rs. 37.47 crore from Rs. 40.92 crore for the corresponding 01 FY2018.

- The Company has changed the valuation approach for valuing its portfolio of tax free bond resulting in fair value loss of Rs.23.80 crore as at April 1, 2018 which has been disclosed as an exceptional item.

- EBITDA margin stood at 44% and PAT margin at 9%

- Net Profit stood at Rs. 7.33 crore compared to Rs. 26.30 crore on corresponding 01 FY2018, registering a decline of 72%, on account of exceptional item of Rs. 23.80 crore.

Operational Performance

- The average daily turnover traded on the Exchange increased by 29.77% to Rs. 24,360 crore in Qi FY 2019 from Rs. 18,772 crore in the corresponding quarter of 01 FY2018.

- The total number of commodity futures contracts traded on the Exchange for the quarter ended 01 FY2019 increased by 14.58% to 55 million from 48 million in the corresponding quarter of 01 FY2018.

- During 01 FY2019, the Exchange's market share in commodity derivative space has increased to 92.25% from 89.93% in the corresponding quarter ended 01 FY2018.

Mr. Mrugank Paranjape, MD & CEO, MCX said, "We have witnessed strong growth in the overall operating performance, as our average daily traded turnover grew about 30% to Rs 24,360 crores over the corresponding quarter last year. The commodity contracts across the non-agricultural segment led to the growth in the quarter."

"The regulator's recent initiatives to liberalise and boost commodity market further complements our areas of focus and provides us the impetus to continue delivering on our promise to develop a vibrant marketplace and build market efficiencies in the commodity ecosystem. We are enthused to see good response to our recently launched four option contracts on our established commodity futures across the non-agricultural segment and expect them to the meet the evolving needs of stakeholders in the value chain. The turnaround in performance of gold options ever since the introduction of liquidity enhancement scheme in April'18 is encouraging. MCX would continue to focus on providing more value added and new products for inclusive growth of all its stakeholders with regulatory enablements", Mr. Paranjape added.

Shares of MULTI COMMODITY EXCHANGE OF INDIA LTD. was last trading in BSE at Rs.798.2 as compared to the previous close of Rs. 806.25. The total number of shares traded during the day was 48941 in over 2012 trades.

The stock hit an intraday high of Rs. 810 and intraday low of 788.95. The net turnover during the day was Rs. 39002476.

Source: Equity Bulls

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