 "MCX surges post Q4 results")
Shares of Multi Commodity Exchange of India (MCX) have moved higher by 9% to Rs 1,144 on the NSE after reporting a 12.6% year-on-year (yoy) growth in standalone net profit at Rs 49.30 crore for the quarter ended March 31, 2015 (Q4).
The company had posted a profit of Rs 43.75 crore in the same quarter last fiscal. On a sequential basis, the net profit more than doubled from Rs 22.97 crore in December 2014 quarter.
The higher net profit growth is attributed to lower expenses, including software and depreciation charges and higher other income.
Total income from operations, however, declined by 7.8% to Rs 58.97 crore in the March 2015 quarter against Rs 63.96 crore in the corresponding quarter of the previous year.
The trading volumes on the counter almost doubled, with a combined 773,828 shares changing hands so far.
At 1029 hours, the stock was up nearly 7% at Rs 1,125 on the NSE.
The company had posted a profit of Rs 43.75 crore in the same quarter last fiscal. On a sequential basis, the net profit more than doubled from Rs 22.97 crore in December 2014 quarter.
The higher net profit growth is attributed to lower expenses, including software and depreciation charges and higher other income.
Total income from operations, however, declined by 7.8% to Rs 58.97 crore in the March 2015 quarter against Rs 63.96 crore in the corresponding quarter of the previous year.
The trading volumes on the counter almost doubled, with a combined 773,828 shares changing hands so far.
At 1029 hours, the stock was up nearly 7% at Rs 1,125 on the NSE.
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