Hot Pursuit     06-Feb-23
MCX reports 13% YoY rise in Q3 PAT; commodity futures ADT at Rs 24,266 crore
Multi Commodity Exchange of India (MCX) recorded 13% increase in consolidated net profit to Rs 38.79 crore on a 57% rise in total income to Rs 163.65 crore in Q3 FY23 over Q3 FY22.

As compared with Q2 FY23, however, the company's net profit is lower by 39%.

Operating income for the quarter ended 31 December 2022 registered a growth of 60% to Rs 143.57 crore from Rs. 89.55 crore in corresponding Q3 FY22.

EBITDA for the quarter ended 31 December 2022 marginally increased by 0.08% to Rs 52.82 crore from Rs 52.78 crore over the corresponding quarter ended 31 December 2021.

Due to delay in implementation of the new technology platform, the Exchange had to extend the services of the existing vendor, initially for one quarter at the cost of Rs 60 crore (October-December 2022) and thereafter, for two quarters at the cost of Rs 81 crore for each quarter (beginning January 01, 2023 till June 30, 2023).

Consequently, Q3 FY 2022-23 EBITDA has been impacted due to booking expenses of Rs 60 crore (the January 2023 to June 2023 period extension costs would impact the coming two quarters).

The average daily turnover (ADT) in overall commodity futures decreased by 1% and stood at Rs 24,266 crore in Q3 FY 2022-23 vis-à-vis Rs 24,556 crore in the corresponding quarter of FY 2021-22.

The notional ADT of options increased by 358% to Rs 39,402 crore in Q3 FY 2022-23 from Rs 8,610 crore during Q3 FY 2021-22.

Total quantity of 19,602 tonnes of base metals has been delivered during Q3 FY 2022-23 vis-à-vis 18,346 tonnes in Q3 FY 2021-22 through the exchange mechanism.

MCX's market share in commodity futures turnover during April-December 2022 stood at 96.8%.

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 96.8% in terms of the value of commodity futures contracts traded in financial year 2022-23 (April - December 2022). Various commodities across segments are traded on the Exchange platform, which include bullion, energy, metals and agri commodities.

The scrip declined 6.01% to Rs 1419.30 on the BSE.

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