MCX surges 8% on strong Q1 results

The company's Q1FY20 net profit has increased by 496% to Rs43.70cr from Rs7.33cr for the corresponding quarter ended June 30, 2018.

Jul 17, 2019 07:07 IST India Infoline News Service

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Shares of Multi Commodity Exchange of India Limited (MCX), India’s No.1 Commodity Exchange, surged 8% intraday after the company reported healthy Q1 numbers on Tuesday,

The company's Q1FY20 net profit has increased by 496% to Rs43.70cr from Rs7.33cr for the corresponding quarter ended June 30, 2018.

The total income also rose by 30% to Rs110.84cr in Q1 as against Rs85.43cr for the corresponding quarter ended June 30, 2018.

EBITDA jumped by 58% in Q1 at Rs59.09cr from Rs37.47cr for the corresponding quarter ended June 30, 2018. The EBITDA margin stood at 53% and PAT margin at 39%.

Further, the average daily turnover (ADT) on the exchange has increased by 12.8% to Rs27,473cr in Q1FY20 from Rs24,360cr in the corresponding quarter of Q1FY19, the company said in the press note.

In July, the turnover in MCX Gold (all variants) made a daily high of Rs18,191cr and open interest also recorded a high of 30.8 tonnes.

Cotton witnessed a record high turnover of Rs792.67cr on May 14, 2019 and the open interest averaged 5.08 lakh bales during the Q1FY19-20.

MCX has successfully converted all its base metal futures contracts into compulsory delivery contracts. Until now, 3,288 tonnes of Aluminium, 1,370 tonnes of Zinc and 85.5 tonnes of Nickel have been delivered through the exchange mechanism. The copper July 2019 contract has been the last base metal contract to be converted into a compulsory delivery contract.

Multi Commodity Exchange of India Ltd is currently trading at Rs865.60 up by Rs52.05 or 6.4% from its previous closing of Rs813.55 on the BSE.
The scrip opened at Rs820.10 and has touched a high and low of Rs881.45 and Rs820.10 respectively. So far 30,06,983 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs4,149.11cr.

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