MCX's Q3 FY23-24 operational revenue Rs. 191.53 crores, up by 33% over Q3 FY22-23

The Multi Commodity Exchange of India Ltd. (MCX), India's largest Exchange in the Commodity Derivatives Market segment, announced its unaudited financial results for the 3rd Quarter ended December 31, 2023. The highlights of the consolidated results are as under:

Q3, FY23-24 Financial Highlights:

- For the quarter ended December 31, 2023, MCX's total income increased by 13.72% to Rs. 209.26 crores from Rs. 184.02 crores over the sequential quarter ended September 30, 2023. While the operating income increased by 16% to Rs. 191.53 crores from Rs. 165.11 crore in sequential quarter, Q2 FY23-24.

- EBITDA for the quarter ended December 31, 2023, increased by 79.88% to Rs. (1.97) crores from Rs. (9.79) crores over the sequential quarter ended September 30, 2023. For the quarter ended December 31, 2023, the EBITDA margin was (0.94)% and PAT margin was (2.56)% mainly on account of payment made to technology vendor and contribution to SGF.

- Net loss for the quarter ended December 31, 2023, decreased by 71.95% to Rs. (5.35) crores from Rs. (19.07) crores over the sequential quarter ended September 30, 2023.

Q3, FY23-24 Operational Highlights:

- The ADT of futures increased by 10.8% to Rs. 20,796 crores during Q3 FY23-24 from Rs. 18,763 crores in the previous quarter, Q2 FY23-24.

- Options, on the other hand, made significant growth as its ADT increased to Rs. 95,989 crores as against Rs. 85,873 crores in Q2 FY23-24. The average premium turnover also increased to Rs. 1,935 crores from Rs. 1,580 crores in Q2 FY23-24.

- During the quarter, the number of total traded clients stood at 4.77 lakh, witnessing a growth rate of 7.4% over the previous quarter.

- During Q3 FY23-24, 1.5 MT and 27.6 MT of Gold (all variants) and Silver (all variants) respectively were delivered through the Exchange mechanism. In base metals, a total of 27,804 MT of base metals were delivered.

Quarter ended December 31, 2023, vs December 31, 2022 - Financial Highlights

- For the quarter revenue from operations increased by 33.40% to Rs. 191.53 crores compared to the corresponding three-month period ended December last year.

- For the quarter ended December 31, 2023, the total income of MCX stood at Rs.209.26 crores vis-à-vis Rs. 163.65 crores during the corresponding period in the previous year.

- EBITDA for the quarter ended December 31, 2023, stood at Rs. (1.97) crores, as against Rs. 44.14 crores in the corresponding period of FY22-23 mainly on account of payment made to technology vendor and contribution to SGF.

- Net Profit for the quarter ended December 31, 2023, stood at Rs. (5.35) crores, as against Rs. 38.79 crores in the corresponding period of FY22-23.

Nine-month ended December 31, 2023 - Operational Highlights

- For the nine months ended FY23-24, the ADT of futures and options increased by 85.9% reaching Rs. 1,01,508 crores, compared to the turnover in the same period the previous year.

- The total traded clients in futures and options on the exchange saw a growth of 50.8%, reaching around 7.53 lakh during FY23-24 over the corresponding period last year.

- The ADT of commodity futures experienced a decline of 16.9% during FY23-24, dropping to Rs. 20,321 crores from Rs.24,469 crores in the corresponding period of FY22-23.

- On the other hand, there was a significant increase in the notional ADT of options during the nine months of FY23-24, increasing by 169.5% to Rs. 81,186 crores from its previous value of Rs. 30,123 crores corresponding period of FY22-23.

- During 9M FY23-24, 5.6 MT and 230.2 MT of Gold (all variants) and Silver (all variants) respectively were delivered through the Exchange mechanism. In base metals, a total of 64,820.5 MT of base metals were delivered.

Shares of Multi Commodity Exchange of India Limited was last trading in BSE at Rs. 3830.70 as compared to the previous close of Rs. 3879.90. The total number of shares traded during the day was 32712 in over 3460 trades.

The stock hit an intraday high of Rs. 3990.20 and intraday low of 3754.15. The net turnover during the day was Rs. 126664312.00.

Source : Equity Bulls

Keywords

MultiCommodityExchangeofIndia INE745G01035 MCX Q3FY24 9MFY24 ResultUpdate