MCX - Q1FY21 First Cut - ICICI Securities

(CMP: Rs. 1502, MCap: Rs. 7658)

MCX reported healthy set of Q1FY21 earnings wherein healthy other income and lower opex offset blip in revenue led by decline in ADTO.

Q1FY21 Earnings Summary

- Reduction in trading hours amid Covid in April'20, impacted ADTO (Average Daily Turnover) by 16% YoY to Rs. 23,129 crore in Q1FY21 as against Rs. 27473 crore in Q1FY20. Resultantly, revenue declined 8.1% YoY to Rs. 73 crore

- MCX reported sharp increase in its market share by 511 bps YoY and 270 bps QoQ to 96.71%

- Other income growth was healthy at 58.3% YoY to Rs. 49.7 crore, attributable to better gains from investments

- Healthy other income and lower opex supported EBITDA reported at Rs. 26.5 crore. However, higher tax rate limit traction in PAT at Rs. 56.4 crore, up 29.2% YoY. PAT margin stood at 77.3% in June 2020 vs 55% in June 2019

We will be coming out with a detailed report soon.

Shares of MULTI COMMODITY EXCHANGE OF INDIA LTD. was last trading in BSE at Rs.1561.2 as compared to the previous close of Rs. 1501.55. The total number of shares traded during the day was 104419 in over 10119 trades.

The stock hit an intraday high of Rs. 1641.65 and intraday low of 1475.85. The net turnover during the day was Rs. 163562254.

Source : Equity Bulls

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