Multi Commodity Exchange of India Ltd (MCX), India's No.1 commodity exchange announced its unaudited financial results for the third quarter & nine months ended December 31, 2017.
Quarter 3, FY 2017-18 results
- For the quarter ended December 31, 2017, MCX's total income decreased by 16.41% to Rs.76.52 crore from Rs.91.54 crore over the previous quarter ended September 30, 2017. While the operating revenue decreased by to Rs.60.97 crore, the other income comprising primarily of treasury revenue fell by 35.95% to Rs.15.55 crore on account of steep rise in bond yields, impacting the investment income.
- EBITDA for the quarter ended December 31, 2017 decreased by 35.30% to Rs.29.07 crore from Rs.44.93 crore over the previous quarter ended September 30, 2017.
- Net Profit for the quarter ended December 31, 2017, decreased by 35.61% to Rs.18.77 crore from Rs.29.15 crore over the sequential quarter ended September 30, 2017.
- For the quarter ended December 31, 2017, the EBITDA margin was 37.99% and PAT margin was 24.53%.
Nine Months (9M) FY 2017-18 results
- For the nine months ended December 31, 2017, the total income of MCX stood at Rs.255.29 crore vis-à-vis Rs. 289.38 crore during the corresponding period in FY 2016-17.
- EBITDA for the nine months of FY 2017-18 stood at Rs.114.92 crore, as against Rs.159.17 crore in the corresponding period of FY 2016-17.
- Net Profit for the nine months of FY 2017-18 stood at Rs.74.22 crore, representing a 29.15% decrease over the corresponding period of FY 2016-17.
- For the nine months ended December 31, 2017, the EBITDA margin was 45.02% and PAT margin was 29.07%.
- The average daily turnover (ADT) in commodity futures decreased by 3.7% to Rs.20,229 crore during Q3 FY2018 visa-vis the corresponding quarter of FY2017.
- During nine months of FY2018 the Exchange's market share in commodity derivative space has decreased to 89.73% as against 90.35% in the corresponding nine months of FY2017.
- The average daily turnover (ADT) in commodity futures decrease by 13.8% per cent to Rs.20,325 crore during the nine months of FY2O1B, from Rs.23,580 crore during the corresponding nine months of FY2017.
- The average daily turnover (ADT) in commodity options during the quarter was Rs.140 crore.
- The volume (in terms of commodity futures contracts traded on the Exchange) decreased by 14 per cent in nine months of FY2018, to 151 million lots, compared with 175 million lots traded in the corresponding nine months of FY2017.
Mr. Mrugank Paranjape, MD & CEO, MCX said: "The quarter witnessed mixed performance across product segments. Contrary to historical trend, metals segments had an increase over the volumes in 02. However, because of low volatility in gold prices during the quarter, which led to a decrease in bullion volumes by 29% over the previous quarter, there was an overall decrease in volumes. The rise in Bond yields affected investment gains resulting in a fall in investment income.
In the last quarter, we had a successful launch of our Options contract on Gold Futures. The market went through the complete settlement cycle including devolvement without any glitches. This paves the way for us to seek regulatory approvals on more Options contracts. In parallel, we continue to engage with the regulators and the market participants to increase the liquidity in this product.
As committed, the Company continues to exercise control over the operating cots, which have remained at same levels as previous quarter, after factoring expenses incurred towards launch of options and other member engagement activities".
Shares of MULTI COMMODITY EXCHANGE OF INDIA LTD. was last trading in BSE at Rs.850.65 as compared to the previous close of Rs. 896.4. The total number of shares traded during the day was 240696 in over 7927 trades.
The stock hit an intraday high of Rs. 875 and intraday low of 835. The net turnover during the day was Rs. 204608774.