Multi Commodity Exchange of India, the country’s largest commodity exchange, registered 55 per cent increase in its March quarter net profit at ₹34 crore against ₹22 crore logged in same period last year, on back of higher trading volume.
Income from operations was up 13 per cent at ₹71 crore (₹63 crore). The company has announced a dividend of ₹17 a share.
Earnings before interest, tax, depreciation and amortisation increased by 31 per cent to ₹49 crore (₹37 crore). EBITDA margin stood at 51 per cent. The average daily turnover in commodity futures increased by 23 per cent to ₹23,824 crore in March quarter.
For the year ended March, the exchanges net profit was down at ₹108 crore (₹ 127 crore) as the daily turnover on the exchange dropped. Income from operations stood at ₹260 crore (₹259 crore).
Mrugank Paranjape, Managing Director, MCX, said the exchange is treading an exciting and innovative path, supported by an enabling and evolving regulatory environment, which is paving way for new products, participants and streamlining the distribution channels.
This apart, he said the rationalisation of tax structure on exercise of commodity options in the last budget and recent launch of liquidity enhancement scheme is expected to provide the much needed impetus to the growth and development of this nascent products.