Commodities

MCX shares plunge to 52-week low

PTI New Delhi | Updated on January 18, 2018 Published on January 17, 2018

MCX has posted a 44.85 per cent fall in consolidated net profit at Rs 18.77 crore for the December quarter due to lower volumes in the bullion segment.

Shares of commodity exchange MCX plunged more than 5 per cent in morning trade after the company’s December quarter net profit declined by 45 per cent.

The stock opened on a weak note at Rs 875.00, then lost further ground and fell to a 52-week low of Rs 845.70, down 5.65 per cent over its previous closing price. On the NSE, the stock opened at Rs 871, then plunged 5.77 per cent to a 52-week low of Rs 844.25.

MCX had yesterday posted a 44.85 per cent fall in consolidated net profit at Rs 18.77 crore for the December quarter due to lower volumes in the bullion segment. It had clocked a net profit of Rs 34.04 crore in the same quarter last year.

Net income declined to Rs 76.52 crore for 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 during the quarter under review compared to the year-ago period.

MCX Managing Director and CEO Mrugank Paranjape said: “The quarter witnessed mixed performance across product segments.”

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Published on January 17, 2018
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