MCX share price slips 11% despite posting strong Q3 show; revenue up 57%

Multi Commodity Exchange (MCX) shares slipped 11.3 per cent in trade on Tuesday (January 21, 2025), logging an intraday low at Rs 5,333 per cent. The stock fell despite the company posting strong Q3FY25 numbers. 

 

Around 10:02 AM, MCX share price was down 7.73 per cent at Rs 5,552.15 per share on BSE. In comparison, the BSE Sensex was down 0.38 per cent at 76,777.61. The market capitalisation of the company stood at Rs 28,390.28 crore. The 52-week high of the stock was at Rs 7,046.70 per share and the 52-week low was at Rs 2,917 per share. 

 

The commodities exchange platform reported its Q3 results on Monday, January 20, 2025, after market hours. In its Q3, the company swung back to profit at Rs 160.04 crore from a loss of Rs 5.35 crore incurred a year ago. Meanwhile, its revenue for the quarter under review stood at Rs 301 crore as compared to Rs 192 crore which implies a rise of 57.4 per cent year-on-year (Y-o-Y).

 

Further, as per the filing, MCX’s total income increased to Rs 324 crore from Rs 311 crore over the sequential quarter ended September 30, 2024. The operating income increased to Rs 301 crore from Rs 286 crore in the sequential quarter, Q2 FY24-25. 

 

Additionally, Earnings before, interest, tax, amortisation, and depreciation (Ebitda) for the quarter that ended December 31, 2024, increased to Rs 216 crore from Rs 205 crore over the sequential quarter that ended September 30, 2024. For the quarter that ended December 31, 2024, the Ebitda margin was 67 per cent and the profit after tax (PAT) margin was 49 per cent.

 

Options made significant growth as its average daily turnover (ADT) increased to Rs 2,07,090 crore as compared to Rs 1,93,309 crore in Q2 FY24-25. The average premium turnover also increased to Rs 3,613 crore from Rs 3,264 crore in Q2 FY24-25. The ADT of futures increased to Rs 28,410 crore during Q3 FY24-25 from Rs 26,941 crore in the previous quarter, Q2 FY24-25.

 

MCX is an electronic exchange, and commodity derivatives exchange with a market share of about 97.97 per cent in terms of the value of commodity futures contracts traded in the financial year 2024-25 (April 2024 – December 2024). MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem.

 

In the past one year, MCX shares have lost 13 per cent against Sensex's rise of 9.5 per cent.