- Multi Commodity Exchange Ltd's Q1 net profit fell 22% to Rs 413 crore from Rs 530 crore
- Revenue declined 21% to Rs 702 crore compared to Rs 889 crore in the previous year
- Ebitda dropped 25.8% to Rs 494 crore from Rs 666 crore year-on-year
Multi Commodity Exchange of India Ltd.'s consolidated net profit fell 22% sequentially to Rs 413 crore in the first quarter of FY27 as revenue and operating profit declined from the preceding three months.
Revenue from operations dropped 21% to Rs 702 crore from Rs 889 crore in the March quarter. Profit after tax stood at Rs 530 crore in the preceding quarter, according to the company's earnings release.
The sequential decline came as business activity moderated from the March quarter. However, MCX recorded growth from the year-ago period, with revenue rising 88%, Ebitda increasing 98% and net profit more than doubling.
MCX Q1 (Consolidated, QoQ)
- Net Profit down 22% to Rs 413 crore versus Rs 530 crore.
- Revenue down 21% to Rs 702 crore versus Rs 889 crore.
- Ebitda down 25.8% to Rs 494 crore versus Rs 666 crore.
- Ebitda Margin at 70.4% versus 74.9%.
Trading Activity
Average daily turnover in futures rose 47% year-on-year to Rs 59,674 crore from Rs 40,547 crore during the quarter. Options notional average daily turnover increased 266% to Rs 9.90 lakh crore from Rs 2.70 lakh crore.
Combined futures and options average daily turnover rose 238% to Rs 10.5 lakh crore from Rs 3.1 lakh crore. The number of clients who traded on the exchange increased to 13.72 lakh from 7.03 lakh a year earlier.
Business Update
MCX recorded deliveries of 6.3 tonnes of gold, 122 tonnes of silver and 20,700 tonnes of base metals during the quarter.
The exchange launched a 100-gram silver futures contract on June 1. It also expanded its Good Delivery norms to silver and empanelled its first domestic silver refiner in July. MCX added three domestic gold refiners during the same month.
MCX had a market share of more than 98.5% by value of commodity futures contracts traded during the June quarter, according to the company.
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