Markets

MCX net profit zooms six-fold to ₹44 cr in Q1

Our Bureau Mumbai | Updated on July 16, 2019 Published on July 16, 2019

Cotton recorded highest turnover at ₹793 crore in May

The Multi Commodity Exchange reported that its net profit in June quarter increased more than six times to ₹44 crore (₹7 crore) on higher trading volume.

Income increased 30 per cent to ₹111 crore against ₹85 crore logged in the same period last year on higher trading volume on the exchange.

However, income was almost flat compared sequentially to March quarter, while net profit was down 28 per cent compared to March quarter profit of ₹61 crore.

The average daily turnover during the quarter under review increased 13 per cent to ₹27,473 crore (₹24,360 crore).

EBITDA increased 58 per cent to ₹59 crore (₹37 crore), while EBITDA margin was at 53 per cent.

Cotton recorded highest turnover of ₹793 crore in May with average open interest of 5.08 lakh bales in June quarter. The exchange has converted all its base metal futures contracts into compulsory delivery contracts.

Till date, 3,288 tonnes of aluminium, 1,370 tonnes of zinc and 85.5 tonnes of nickel were delivered on the exchange platform. Copper July contract was the last base metal contract to be converted into a compulsory delivery contract.

On Tuesday, the shares of MCX closed 0.59 per cent lower at ₹813.55, on the BSE.

Published on July 16, 2019
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