Multi Commodity Exchange of India reported 21 per cent fall in September quarter net profit at ₹29 crore, largely due to higher expense and lower income.

Total income from operations in the quarter was down four per cent ₹92 crore (₹96 crore) despite higher trading volume on the exchange platform.

The EBITDA was up at ₹45 crore, an increase of 10 per cent over the previous quarter.

MCX saw 17 per cent increase in average daily turnover at ₹21,972 crore (₹18,772 crore).

Mrugank Paranjape, Managing Director, MCX, said there was a broad base volume growth across the traded commodities during the quarter on progressive regulatory and policy developments.

The launch of options trading on one KG Gold futures’ on October 17, along with futures will open up a new chapter in the history of commodity derivatives market in India. Options complement existing futures. It would empower hedgers and other market participants with a broad product suite, enabling flexibility and greater customisation for better achieving their trading objectives, he said.

At the same time, he added the institutionalisation of Commodity Exchange has taken wings with the permission to banking entities to provide broking and clearing services in the commodity derivatives markets and start of trading by institutions.

During the last two quarters, the exchange has connected with about 8900 farmers and others in the agriculture value chain in Uttar Pradesh, Maharashtra and Gujarat and over 6000 jewellers in 18 states and 39 locations through various awareness programs and events, he said.

Shares of the company were up 0.25 per cent at ₹1,133 on Friday.

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