Home Market MCX Q1 net profit drops over 72% to Rs 7 crore

MCX Q1 net profit drops over 72% to Rs 7 crore

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NEW DELHI: Leading commodity bourse MCX today posted over 72 per cent fall in its consolidated net profit at Rs 7.33 crore during the first quarter of the 2018-19 fiscal.

Net profit stood at Rs 26.30 crore in the same quarter of the last fiscal, it said in a regulatory filing.

However, income from the operations increased to Rs 72.87 crore during April-June quarter of the current fiscal from Rs 59.19 crore in the year-ago period.

MCX CEO and MD Mrugank Paranjape said, "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, he said.

Paranjape further added that the regulator Sebi's recent initiatives to liberalise and boost commodity market further complements the company's areas of focus.

MCX would continue to focus on providing more value added and new products for inclusive growth of its stakeholders, he further said.

The exchange's shares fell 1 per cent to settle at Rs 798.20 apiece on the BSE today.

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