MCX Q1 net profit up 55% at Rs 33 cr

Commodity exchange MCX today reported 55 per cent increase in net profit to Rs 32.81 crore for the quarter ended June 30.
It had reported net profit of Rs 21.22 crore in the April- June period of the last fiscal.
Income from operations increased to Rs 62.98 crore in the first quarter of 2016-17 from Rs 56.21 crore in the year-ago period.
Its total income increased by 23 per cent to Rs 93.79 crore during April-June quarter of this fiscal from Rs 76.17 crore in the corresponding period of previous year.
During the first quarter, MCX said its market share in commodity derivative space has increased to 88.20 per cent from 80.55 per cent in the corresponding quarter of last fiscal.

The average daily turnover traded on the Exchange has increased by 16 per cent to Rs 24,591 crore in Q1 of FY 2017 from Rs 21,217 crore in the corresponding quarter of Q1 of FY2016.

Total number of commodity futures contracts traded on the exchange for the quarter ended Q1 of FY2017 increased by 29 per cent to 62 million from 48 million in the corresponding quarter of Q1 of 2015-16 fiscal.
MCX MD & CEO Mrugank Paranjape said: "The company has made significant investments in human resources and technology, and is aware of the need to remain agile in trying to find newer avenues for revenues as we strive to keep up the momentum of our investments in strategic resources.

"Looking ahead, our priority is to continue leveraging our strengths as well as our leadership position in the industry for the benefit of our stakeholders. We remain confident that MCX will continue to play a pivotal role in India's quest for a vibrant commodity market in India.