WebSify
Follow us on
Mail
Print

MCX net profit up 26% q-o-q at Rs 84 cr

Source : BUSINESS_STANDARD
Last Updated: Sat, Nov 03, 2012 18:40 hrs
MCX volumes to zoom on metal contracts

Multi Commodity Exchange of India (MCX), India's largest commodity derivatives trading platform, posted a 26 per cent rise in net profit at Rs 84.41 crore for the quarter ended September, compared with Rs 64.74 crore in the previous quarter.

The exchange's total income rose 13 per cent to Rs 164.78 crore, against Rs 146.23 crore in the quarter ended June. The earnings before interest, tax, depreciation and amortisation margin improved from 68 per cent to 70 per cent, while the net profit margin rose from 44 per cent to 49 per cent, compared to the previous quarter.

"MCX's performance has been steady, considering the low volatility in commodity prices witnessed during the period. The exchange, however, has been able to maintain an edge, in terms of market share of the Indian commodity futures market. Our sustained efforts focused on creating innovative products received commendation once again, with MCX winning the FOW Award for its Gold Petal futures contract under the most innovative new contract by an exchange in the metals category," said Managing Director and Chief Executive Officer Shreekant Javalgekar.

The average daily turnover traded on the exchange rose seven per cent to Rs 51,054 crore, compared with Rs 47,888 crore in the previous quarter. According to Forward Markets Commission data, the value of the turnover traded on MCX accounted for 86.4 per cent of the Indian commodity futures industry during the six months ended September, against 86 per cent in 2011-12.

blog comments powered by Disqus
most popular on facebook
talking point on sify finance