MCX share price slipped over 6% after the company announced its Q2 results. The stock declined as much as 6.88% to Rs 3,252.50 apiece on the BSE, after touching a 52-week high in the previous session.
The Multi Commodity Exchange of India (MCX) on Tuesday reported a 130% year-on-year (YoY) jump in its consolidated net profit to Rs 454.57 crore in the second quarter of FY27.
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The company's revenue from operations in Q2FY27 spiked 114% YoY to Rs 799.66 crore from Rs 374.23 crore, YoY.
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At the operational level, EBITDA during the September quarter surged 146% YoY to Rs 664 crore, while EBITDA margin also expanded to 78% from 72.3%, YoY.
MCX said its Average Daily Turnover (ADT) of futures increased to Rs 62,819 crore, and for options it increased to Rs 12,00,129 crore.
Brokerage firm Jefferies said that MCX Q2 results were in-line with estimates. It noted that the EBITDA of Rs 6.1 billion was largely in line with its expectations.
Operating revenue grew 14% QoQ, led by options, whose share in transaction revenues rose to 76% in the September 2026 quarter versus 75% last quarter, Jefferies said.
Additionally, employee expenses grew slower than Jefferies' estimates, while tech cost growth was a miss. EBITDA margin improved to 76.4%, up 147 bps QoQ, while PAT was affected by higher taxes due to MCXCCL's Rs 470 million tax expense for H1 coming in Q2, Jefferies said.
MCX Share Price Technical Outlook
The fall in MCX share price today comes after a strong rally. The stock has jumped 22% in three months and has gained 13% in six months. Over the past one year, MCX shares have surged 76%, while they have delivered multibagger returns of 155% in two years.
MCX shares have skyrocketed 546% in three years and have spiked 826% in five years.
Post the announcement of Q2 results, MCX stock price has reacted negatively.
Ruchit Jain, Head - Equity Technical Research, Wealth Management, Motilal Oswal Financial Services, noted that MCX share price has once again reverted from its previous swing high resistance level around Rs 3,500.
“Unless we see a breakout beyond this hurdle, we expect the stock to consolidate in range,” said Jain.
According to him, the immediate supports for MCX shares are placed at Rs 3,190 and Rs 2,985.
At 10:25 AM, MCX share price was trading 5.61% lower at Rs 3,297.20 apiece on the BSE.
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