MCX Q4 net income rises 7 pc to Rs 65.5 crore in Mar quarter

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MCX has updated its software system to quote and trade at minus prices, more than a month after it controversially settled crude oil contracts.
crude oil contracts

Mumbai, May 30 (PTI) Commodities bourse MCX on Saturday reported a 7 per cent growth in net income at Rs 65.50 crore for the three months to March.

The largest exchange in the commodity derivatives segment said its March quarter revenue did better with a 22 per cent growth at Rs 135 crore and operating income higher by 33 per cent at Rs 105.28 crore.

For the full year to March, net profit jumped a healthy 62 per cent to Rs 236.50 crore on an income Rs 503.11 crore as against Rs 398.59 crore in FY19.

The numbers were boosted by healthy margins, which stood at 56 per cent for the full year and at 52 per cent for the reporting quarter.

The board recommended a 300 per cent dividend or Rs 30 a share.

The average daily turnover of commodity futures contracts traded on the exchange rose 36 per cent to Rs 36,626 crore in the March quarter.

During the year, the exchange’s market share increased to 94.01 per cent from 91.60 per cent in FY19.

The average daily turnover increased 26 per cent to Rs 32,424 crore for the FY20, while total quantity of 74,206 million tonne of base metals were delivered through the exchange mechanism.

Source: PTI

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