MCX shares came under pressure on Wednesday after the exchange reported a weaker June quarter on a sequential basis. Profit, revenue and operating margins all declined from the previous quarter, prompting the stock to fall over 3% in early trade.
At around 10:20 am, the stock was trading at Rs 2,596.6 on the NSE.
Net profit stood at Rs 413 crore, down 22% from the March quarter, while revenue fell 21% to Rs 702 crore. EBITDA dropped to Rs 494 crore, with the margin easing to 70.4% from 74.9%.
Managing Director and Chief Executive Officer Praveena Rai said the company entered the new financial year with strong momentum, supported by rising participation across its markets.
"We have entered the new financial year with strong momentum, and it is encouraging to see growing volumes across our markets. This reflects the increasing relevance of commodity derivatives as an effective tool for both hedging and investment," Rai said.
Also Read: Marico's Stock Slides Over 3% Even As Q1 Net Profit, Revenue Beat Estimates
She added that MCX remains focused on expanding market participation, broadening its product offerings and strengthening its technology capabilities to create long-term value for the commodity ecosystem.
Earnings Dropped Despite Trading Volumes Growth
MCX reported robust growth in average daily turnover during the quarter compared with the year-ago period.
Futures average daily turnover rose 47% year-on-year to Rs 59,674 crore from Rs 40,547 crore. Options average daily turnover on a notional basis surged 266% to Rs 9.90 lakh crore from Rs 2.70 lakh crore.
The commodity exchange also reported a sharp rise in market participation, with total traded clients increasing to 13.72 lakh in the June quarter from 7.03 lakh a year earlier.
Investors will continue to monitor whether the sustained growth in trading volumes and client additions translates into stronger earnings momentum in the coming quarters.
Stock Movement
MCX shares gained more than 65% in the past year; however, the stock came under pressure in the past month. Over the past month, the stock is down over 7.6%.
The total market cap commanded by MCX stood at Rs 65,935.79 crore as at the end of the last session, and the stock traded within the range of Rs 1,460.8 and Rs 3,480 in the past 52 weeks
Also Read: MCX Q1 Results: Profit Falls 22%, Revenue Slides To Rs 702 Crore; Margins Contract
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.