MCX stock settles 5% down; m-cap declines by Rs 233 cr

Shares of commodity exchange MCX today lost over 5 per cent after the company posted weak December quarter earnings.
The stock opened at Rs 875 and tanked 6.84 per cent to 52-week low of Rs 835. It closed at Rs 850.65, down 5.10 per cent, on BSE.
The company's market capitalisation (m-cap) fell by Rs 233.32 crore to Rs 4,338.18 crore.
On NSE, the stock opened at Rs 871, then fell to a 52- week low of Rs 835 and finally ended the day at Rs 851.90, down 4.92 per cent.
"Multi Commodity Exchange's (MCX) Q3FY18 earnings came below expectations, impacted by softer revenue momentum (transaction as well as investment income)," Edelweiss Securities said in a research note.

The company had yesterday posted 44.85 per cent decline in consolidated net profit to Rs 18.77 crore for the December quarter on lower volumes in the bullion segment. It had clocked a net profit of Rs 34.04 crore in the same quarter of the previous financial year.
Its net income declined to Rs 76.52 crore in the October- December quarter of the 2017-18 fiscal from Rs 99.88 crore in the year-ago period.
MCX said the average daily turnover in commodity futures dropped by 3.7 per cent to Rs 20,229 crore in the third quarter under review, compared to the year-ago period.