MCX firms up after robust Q2 performance

Multi Commodity Exchange of India rose 3.88% to 1056.05 after the company declared its Q2 earnings after market hours yesterday, 15 October 2019.

On a consolidated basis, net profit rose 99.7% to Rs 71.75 crore on a 55% increase in total income to Rs 144.53 crore in Q2 September 2019 over Q2 September 2018.

MCX's operating income registered a growth of 41% to Rs 100.15 crore from Rs. 71.10 crore in corresponding Q2 FY2019.

EBITDA for the quarter ended 30 September 2019 increased by 103% to Rs 91.64 crore from Rs 45.07 crore over the corresponding quarter ended 30 September 2018 while the EBITDA margin was 63% and PAT margin was 50%.

The average daily turnover traded in commodity futures on the Exchange increased by 40% to Rs 34,526 crore in Q2 September 2019 from Rs 24,655 crore in the corresponding quarter of Q2 September 2018.

During half year ended FY2020 the exchange's markets share in commodity derivative space has increased to 92.87% as against 91.4% in the corresponding period of FY2019.

During H1 FY2020, total quantity of 24,971 MT of base metals has been delivered through the exchange mechanism.

The commodity exchange informed that it has accepted the resignation of Sanjay Wadhwa as chief financial officer of the company.

Meanwhile, the S&P BSE Sensex was up 36 points or 0.09% to 38542.48.

On the BSE, 1.35 lakh shares were traded in the counter so far compared with average daily volumes of 35,543 shares in the past two weeks. The stock hit a high of Rs 1107.7 and a low of Rs 1047.8 so far during the day.

The stock hit a 52-week high of Rs 1107.7 on 16 Oct 2019. The stock hit a 52-week low of Rs 643.5 on 19 Feb 2019.

Multi commodity Exchange of India (MCX) is India's first listed, national-level, electronic exchange. It is also the first exchange to introduce commodity options in India. In the financial year 2018-19, the market share of MCX was 91.59%.

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