Categories: Business

MCX June quarter profit up 29 percent

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MCX q1 profit up 29 percent

new Delhi. Multi Commodity Exchange (MCX) net profit for the first quarter (April-June) of the current financial year increased by 29 percent to Rs 56.43 crore. This resulted in a net profit of Rs 43.70 crore in the same quarter of the previous financial year. In a communication sent to BSE, MCX said that its total income during the quarter increased by 11 percent to Rs 122.70 crore from Rs 110.84 crore in the same quarter of the previous fiscal. However, the operating income of the exchange declined by 14 per cent to Rs 73.01 crore during the period, from Rs 84.97 crore in the same quarter of the previous financial year. During the quarter, exchange of commodity futures contracts daily turnover fell 16 per cent to Rs 23,129 crore, as against Rs 27,473 crore in the corresponding quarter last fiscal. The exchange's market share in the commodity derivatives segment rose to 96.71 percent during the quarter, from 91.60 percent in the same quarter last fiscal.

During the quarter, the exchange cut its expenses which helped it to increase profits. Other income increased from Rs 26 crore to Rs 50 crore. Ebitda rose by 29 per cent to Rs 76 crore level as against Rs 59 crore last year. At the same time, the exchange has signed a MoU to set up a joint venture with Mjunction Services to run a coal exchange. Now will review existing opportunities under the agreement will be extended in the direction of establishing the Coal Exchange after.

This post was published on July 26, 2020 10:55 pm

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