MCX's profit after tax rises 29% to Rs 72 crore in December quarter

The Multi Commodity Exchange of India (MCX) on Thursday reported a 29.20 per cent rise in its consolidated profit after tax (PAT) to Rs 71.80 crore for the December 2020 quarter.

Its PAT had stood at Rs 55.57 crore during the third quarter of 2019-20, the MCX said in a BSE filing.

The commodity exchange's consolidated operating revenue grew 7 per cent to Rs 100.90 crore during the December 2020 quarter, compared to Rs 94.11 crore in the year-ago period.

Its average daily turnover in commodity futures, including index futures, rose 4 per cent to Rs 32,181 crore, against Rs 30,854 crore a year ago.

The group's operations, revenue and profit during the current quarter were not materially impacted due to COVID-19 as some essential services, including commodity markets, were allowed to operate and were exempted from the lockdown.

However, from March 30 to April 22, 2020, the commodity market hours were restricted between 9 am and 5 pm and normal market hours were restored from April 23, 2020, that is from 9 am to 11.30 pm, it added.