MCX Q2 net down 24.75% at Rs 28 crore

Leading commodity exchange MCX on Friday posted 24.75 per cent fall in standalone net profit to Rs 28.33 crore for the quarter ended September 30 of FY18.

The company had clocked a net profit of Rs 37.65 crore in the year-ago period, it said in a filing to the BSE.

Net income declined to Rs 89.82 crore in July-September of FY18 from Rs 95.43 crore in the year-ago period. Expenses rose to Rs 50.99 crore from Rs 44.36 crore in the said period, the filing said.

MCX offers a platform for commodities derivative trading. It has more than 80 per cent market share at present. Maximum metals are traded on the futures segment. It is launching option trade in gold on Dhanteras, October 17.

“This quarter saw a broad-based volume growth across the traded commodities,” MCX Managing Director and CEO Mrugank Paranjape said in a statement. Overall, the company is happy that the commodity markets witnessed progressive regulatory and policy developments during the first half of this financial year, he said.