MCX descends after weak Q4 result

Multi Commodity Exchange of India lost 2.91% to Rs 1,119.75 at 10:19 IST on BSE after net profit dropped 50.78% to Rs 21.88 crore on 19.46% fall in total income to Rs 86.90 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 4 May 2017.

Meanwhile, the S&P BSE Sensex was down 154.89 points or 0.51% at 29,971.32. The S&P BSE Mid-Cap index was down 10.37 points or 0.07% at 15,475.38.

On BSE, so far 53,000 shares were traded in the counter, compared with average daily volume of 47,887 shares in the past one quarter. The stock hit a high of Rs 1,138 and low of Rs 1,103.65 so far during the day. The stock hit a 52-week high of Rs 1,420 on 3 October 2016. The stock hit a 52-week low of Rs 852 on 20 May 2016.

The mid-cap company has equity capital of Rs 51 crore. Face value per share is Rs 10.

Multi Commodity Exchange of India's (MCX) earnings before interest, taxation, depreciation and amortization (EBITDA) decreased 43% to Rs 37.42 crore in Q4 March 2017 over Q4 March 2016.

Mrugank Paranjape, MD & CEO, MCX said that while the second half of the financial year did witness adverse impact on volumes in certain segments, the company believes the government's initiatives will go a long way in strengthening the market. Along with the company's diverse portfolio of products, the introduction of options trading and permitting certain categories of institutions in the commodity derivatives market will help in widening the market through greater financial inclusion, Mrugank Paranjape said.

MCX is India's first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India. Various commodities across segments are traded on MCX. These include bullion, energy, metals and agri commodities.

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