MUMBAI:
Multi Commodity Exchange of India Ltd (MCX), India’s No.1 commodity exchange announced its unaudited financial results for the first quarter en
ded June 30, 2016. The Company adopted the Indian Accounting Standards (IND AS) from April 1, 2016. Accordingly, these financial results have been prepared in accordance with the Companies ( Indian Accounting Standards) Rules 2015 ( IND AS) prescribed under section 133 of the Companies Act, 2013.
Quarter 1, FY 2016-17 results
For the quarter ended June 30, 2016, MCX’s total income increased by 23% to Rs. 93.79 crore from Rs.76.17 crore for the corresponding quarter ended June 30, 2015.
EBITDA for the quarter ended June 30, 2016 increased by 37% to Rs. 52.99 crore from Rs.38.82 crore for the corresponding quarter ended June 30, 2015.
Net Profit (before Other Comprehensive Income) for the quarter ended June 30, 2016, increased by 55% to Rs. 32.81 crore from Rs. 21.22 crore for the corresponding quarter ended June 30, 2015.
For the quarter ended June 30, 2016, the EBITDA margin was 57 % and PAT (before Other Comprehensive Income) margin was 35%.
Operational Performance
During Q1 FY2017 the Exchange’s market share in commodity derivative space has increased to 88.20% from 80.55% in the corresponding quarter ended Q1 FY2016
The average daily turnover traded on the Exchange has increased by 16% to Rs. 24,591 crore in Q1 FY 2017 from Rs. 21,217 crore in the corresponding quarter of Q1 FY2016.
The total number of commodity futures contracts traded on the Exchange for the quarter ended Q1 FY2017 increased by 29% to 62 million from 48 million in the corresponding quarter of Q1 FY2016.
Mrugank Paranjape, MD & CEO, MCX said, “MCX continues to demonstrate leadership position and has exhibited a stellar performance in Q1 FY2017 results. The company has made significant investments in human resources and technology, and is aware of the need to remain agile in trying to find newer avenues for revenues as we strive to keep up the momentum of our investments in strategic resources.”
“Looking ahead, our priority is to continue leveraging our strengths as well as our leadership position in the industry for the benefit of our stakeholders. We remain confident that MCX will continue to play a pivotal role in India’s quest for a vibrant commodity market in India”, he added.
