MCX posts 78% jump in net profit in Q4

Mumbai, Apr 30:

Leading commodity bourse Multi Commodity Exchange has reported a 78.47 per cent jump in consolidated net profit at Rs 60.95 crore for the fourth quarter of 2018-19 on higher income.

Net profit stood at Rs 34.15 crore in the year-ago period, the exchange said in a BSE filing. Total income increased to Rs 110.80 crore during the January-March quarter of 2018-19 from Rs 96.58 crore in the same quarter previous financial year.

The company incurred Rs 58.09 crore expenses against Rs 51.25 crore in the said period. For the full 2018-19 fiscal, the MCX posted 35 per cent increase in its net profit at Rs 146.24 crore, as compared with Rs 108.36 crore in the previous financial year.

Commenting on the MCX performance, its Managing Director and CEO Mrugank Paranjape said, “With a record annual market share of 91.6 per cent, and year-on-year growth of 21 per cent in its average daily turnover (ADT), MCX has rounded off a remarkable Q4 and also a highly successful FY2019.”

The exchange witnessed a steady improvement, across all the four quarters of the financial year, in various financial parameters such as Average Daily Turnover (ADT), Gross Revenue, EBIDTA, and PAT margins, he said.

“Remarkably, the ADT of Rs 26,981 crores for the quarter ending March 2019 was the highest since the levy of CTT (commodity transaction tax) in July 2013. This noteworthy performance is attributable to robust volume growth across our bullion and energy segments,” Paranjape said.

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