Multi Commodity Exchange of India (MCX) today reported 72 per cent decline in net profit for the first quarter of this financial year at ₹ 7.33 crore on account of exceptional item of ₹ 23.80 crore.

The company’s net profit stood at ₹ 26.30 crore on corresponding quarter of FY18, MCX said in a release here.

Operating income of the company registered a growth of 23 per cent at ₹72.87 crore during the quarter under review from ₹ 59.19 crore inn corresponding period of previous fiscal.

“We have witnessed strong growth in the overall operating performance, as our average daily traded turnover grew about 30 per cent to Rs 24,360 crore over the corresponding quarter last year. The commodity contracts across the non-agricultural segment led to the growth in the quarter,” MCX Managing Director and CEO Mrugank Paranjape said.

He said, the regulator’s recent initiatives to liberalise and boost commodity market further complements MCX’s areas of focus and provides the exchange the impetus to continue delivering on its promise to develop a vibrant marketplace and build market efficiencies in the commodity ecosystem.

MCX will continue to focus on providing more value added and new products for inclusive growth of all its stakeholders with regulatory enablements, Paranjape added.

Meanwhile, the average daily turnover traded on MCX increased by 29.77 per cent to ₹ 24,360 crore in the first quarter of FY19 from ₹ 18,772 crore in the corresponding quarter of the previous fiscal.

The total number of commodity futures contracts traded on the exchange for the quarter ended June 30, increased by 14.58 per cent to 55 million from 48 million in the same period last year.

During the first quarter, the exchange’s market share in commodity derivative space has increased to 92.25 per cent from 89.93 per cent in the corresponding quarter of previous fiscal.

Related Topics
comment COMMENT NOW