The company recorded a pre-tax loss of Rs 17.44 crore during the quarter as against profit before tax of Rs 76.72 crore in the corresponding quarter previous year.

The firm posted a negative EBITDA of Rs 9.79 crore for the second quarter as against positive EBITDA of Rs 83.85 crore reported in Q2 FY23, mainly on account of payment made to technology vendor and contribution to SGF.

The contribution to settlement guarantee fund (SGF) stood at Rs 11.4 crore for the second quarter.

As on 30 September 2023, EBITDA margin was at 5.32% and PAT margin stood at 10.36%, substantially on account of payments to technology vendor.

Average daily turnover (ADT) of futures and options during Q2 FY24 saw a significant increase, to reach Rs 1,04,636 crore, compared to Rs 55,298 crore in corresponding quarter last year.

The options’ ADT increased by 38.7% to Rs 85,873 crore in Q2 FY24 from Rs 31,381 crore in Q2 FY23.

The average daily turnover of futures declined by 12.4% to Rs 18,763 crore during Q2 FY24 from Rs 23,917 crore in the same quarter previous year.

During the quarter, the number of total traded clients stood at 4.45 lakh, witnessing a significant growth rate of 52.52% over the previous year.

Total quantity of 17,321 tonnes of base metals has been delivered during Q2 FY24 as against 20,922.5 tonnes in Q2 FY23 through the exchange mechanism.

P S Reddy, MD and CEO of MCX, said, “This migration marks a significant milestone and a new beginning in our quest to develop India’s commodity derivatives market eco-system, driven by technology, in alignment with the Exchange’s strategic vision. As we move forward, our dedication and commitment to strengthen infrastructure and foster innovation in the industry will continue to reinforce our position as India’s leading commodity exchange.”

Multi Commodity Exchange of India (MCX) is India’s first listed, national-level, electronic exchange, and India’s leading commodity derivatives exchange with a market share of about 95.2% in terms of the value of commodity futures contracts traded in financial year 2023-24. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem.