MCX Q2 profit up 23%

Leading commodity bourse Multi Commodity Exchange (MCX) today reported 23 per cent jump in standalone net profit at Rs 37.64 crore in the second quarter of this fiscal on account of higher income.
The exchange had clocked a net profit of Rs 30.59 crore in same quarter last fiscal.
Net income of the exchange rose to Rs 65.24 crore for the July-September period of 2016-17 fiscal from Rs 61.24 crore in the year-ago period, MCX said in a BSE filing.
Expenses remained lower at Rs 44.34 crore in the second quarter of this fiscal as against Rs 49.65 crore in the year-ago period, it added.

In a separate release, MCX said the average daily
turnover traded on the bourse increased by 12 per cent to Rs 25,165 crore during the second quarter of this fiscal from over the year-ago period.

Total number of commodity futures contracts traded during the the quarter increased by 3 per cent to 61 million lots from 59 million lots in the corresponding quarter last year, it said.
Commenting on the performance, MCX CEO and Managing Director Mrugank Paranjape said: "While our business continues to grow steadily demonstrating its resilience, we are intensely focused on enhancing our talent pool and technology, to meet the evolving requirements."

Further, strengthened regulatory architecture of India's commodity derivatives market and introduction of new products such as options, along with the possible entry of institutional participants' holds mammoth potential for MCX, he added.