MCX Q3 Results: Report A Loss, Misses Estimates
Sequentially, losses narrowed from Rs 19.1 crore in the preceding quarter.
Multi Commodity Exchange of India Ltd. reported a loss in the third quarter, missing analysts' estimates.
The company reported a loss of Rs 5.4 crore in the quarter ended December, compared with a profit of Rs 38.8 crore a year ago, according to an exchange filing on Saturday. A Bloomberg poll of analysts' estimates pegged net profit at Rs 1.1 crore.
Sequentially, the loss narrowed from Rs 19.1 crore in the preceding quarter.
MCX Q3 Results Highlights
(Consolidated, YoY)
Revenue from operations rose 33% to Rs 191.5 crore (Bloomberg estimate: Rs 179.5 crore)
Operating losses of Rs 19.7 crore vs. operating profit of Rs 32.7 crore (Bloomberg estimate: Rs 16.8 crore operating loss)
(Consolidated, QoQ)
Revenue from operations rose 16% to Rs 191.5 crore (Bloomberg estimate: Rs 179.5 crore)
Operating losses of Rs 19.7 crore vs. operating profit of Rs 28.7 crore (Bloomberg estimate: Rs 16.8 crore operating loss)
Net losses of Rs 5.4 crore vs. Rs 19.1 crore. (Bloomberg estimate: Rs 1.1 crore net profit)
"Negative ebidta was mainly on account of payment made to technology vendor and contribution to SGF (settlement guarantee fund)," the company said in the filing.
Other Highlights (Q3FY24 QoQ)
The number of total traded clients grew 7% to 4.77 lakh.
Average daily turnover of futures increased by 10.8% to Rs 20,796 crores during Q3 FY24.
Options grew 12% as its ADT increased to Rs 95,989 crore
1.5 MT and 27.6 MT of Gold (all variants) and Silver (all variants) respectively were delivered through the Exchange mechanism.
In base metals, a total of 27,804 MT of base metals were delivered.
Shares of MCX closed 1.27% lower at Rs 3,830.7 apiece on the BSE on Friday, compared with a 0.23% rise in the benchmark Sensex.
