MCX Q1 Results: Net profit soars 83% YoY to ₹203 crore; board approves stock split of 1:5 ratio

Mint

6 days ago

Multi Commodity Exchange of India (MCX), the country's leading commodity derivatives exchange, announced its financial performance for the June quarter on August 1, reporting a consolidated net profit of ₹ 203.20 crore, an 83% jump from ₹ 111 crore in the same period last year.
Revenue from operations rose 60% YoY to ₹ 373 crore from ₹ 234 crore, while EBITDA increased 82% to ₹ 241.6 crore, with margins expanding by 870 basis points to 64.7%.
The bullion segment boosted its share in Average Daily Turnover (ADT) from 23% to 44%, supported by the launch of new variants such as Gold Mini and Gold Ten Futures. Building on the positive response to its monthly Gold Options contracts, MCX also introduced Silver (30 kg) and Silver Mini (5 kg) monthly expiry contracts in collaboration with industry participants.
Overall, ADT of futures and options surged 80% YoY to ₹ 3,10,775 crore from ₹ 1,72,759 crore. As per FIA data, MCX advanced to the position of the world's sixth-largest commodity exchange in 2024, up from seventh in 2023.
Commenting on the financial results, Ms. Praveena Rai, Managing Director & CEO, MCX, said, 'We began this financial year on a positive note, demonstrating resilience, adaptability, and strategic focus amid a continuously evolving market environment. We've also witnessed increased participation from institutional clients and hedgers, especially from the MSME sector and physical market players, with our awareness and product innovation efforts."
"We introduced new contracts, including electricity futures, and expanded the contracts in the bullion and agri segments, broadening the risk management spectrum for our stakeholders. We continue to work closely with our regulators and members to develop the commodity derivative market, improve physical market linkages, and enhance transparency. We remain focused on continuously strengthening technology and risk frameworks, which are an imperative and will serve us well in times to come," he further added.
Along with announcing its June quarter results, the board also approved a subdivision (stock split) of one equity share of face value ₹ 10 each into five equity shares of face value ₹ 2 each.
This will be the first-ever stock split in the company's history, subject to statutory, regulatory, and shareholder approvals. The record date for the stock split will be decided after shareholder approval and announced in due course. According to MCX, the move aims to enhance stock affordability and make shares more accessible to retail investors.