MCX Ltd Q2 net profit down 18.4% yoy at Rs58.55cr

MCX Ltd reported fall of 4.85% in top line sales revenues for the Sep-20 quarter at Rs137.52cr. The operating profits for the quarter ended Sep-20 was down 10.48%

Oct 28, 2020 09:10 IST India Infoline News Service

MCX reported fall of 4.85% in top line sales revenues for the Sep-20 quarter at Rs137.52cr. The operating profits for the quarter ended Sep-20 was down 10.48% at Rs78.25cr while net profits were down 18.40% at Rs58.55cr due to lower volumes.


This had an overall impact on the margins of MCX also. For the Sep-20 quarter, the operating profit margins or OPM was down over 350 bps at 56.90% on the back of lower operating  performance and weaker volumes. The net profit margins or NPM for the quarter was lower by 700 basis points at 42.58%.

Financial highlights for Sep-20 compared yoy and sequentially
Sep-20 Sep-19 YOY Jun-20 QOQ
Revenues 137.52 144.53 -4.85%          122.70 12.08%
Operating Profit 78.25 87.41 -10.48%            71.35 9.67%
Net profit 58.55 71.75 -18.40%            56.43 3.76%
Diluted EPS 11.50 14.11 11.09
OPM 56.90% 60.48% 58.15%
Net Margins 42.58% 49.64% 45.99%
 


Key takeaways from the Sep-20 quarter results

  • The volumes in the commodity market suffered after the volumes were restricted in terms of number of hours for a prolonged period. That has resulted in lower business volumes leading to weaker profits.

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