MCX Q1 Results: Profit Up 50%
Multi Commodity Exchange of India's revenue for the same period saw an uptick of 28.1% to Rs 373 crore compared to last quarter's Rs 291 crore.
Multi Commodity Exchange of India Ltd. saw a 50% rise in its bottom line in its consolidated sequential first-quarter results announced via an exchange filing from the company on Friday.
Its net profit increased Rs 203 crore compared to Rs 135 crore in the previous quarter.
MCX Q1 Highlights (Consolidated, QoQ)
Revenue up 28.1% to Rs 373.21 crore versus Rs 291.33 crore
Net profit up 50% to Rs 203.19 crore versus Rs 135.46 crore
Ebitda up 51% to Rs 241.66 crore versus Rs 160.19 crore
Margin at 64.8% versus 55%
The firm also announced its first stock split, which was in 1:5 ratio. The stocks of face value Rs 10 will be valued at Rs 2 per share.
Shares of MCX closed 1.27% lower at Rs 7,596 apiece on the NSE, compared to a 0.82% fall in the benchmark Nifty. The stock has risen 73.39% in the last 12 months and 21.84% on a year-to-date basis.
Out of the 10 analysts tracking the company, seven have a 'buy' rating on the stock, two recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 4.7%.
