Multi Commodity Exchange of India (MCX), India’s largest commodity derivatives trading platform, posted 26 per cent rise in its net profit at Rs 84.41 crore for the quarter ended September 30, 2012 as compared to Rs 64.74 crore in the previous quarter.
Total income of the exchange increased by 13 per cent to Rs 164.78 crore in the second quarter of the current financial year from Rs 146.23 crore in the previous quarter ended June 30, 2012.
The EBITDA margin improved from 68 per cent to 70 per cent while net profit margin jumped from 44 per cent to 49 per cent as compared to the previous quarter.
“MCX’s performance has been steady considering the low volatility in commodity prices witnessed during the period. The exchange, however, has been able to maintain an edge in terms of market share of the Indian commodity futures market. Our sustained efforts focused on creating innovative products received commendation once again with MCX winning the FOW Award for its Gold Petal futures contract under the most innovative new contract by an exchange in the metals category,” said Shreekant Javalgekar, MD & CEO of the exchange.
Meanwhile, the average daily turnover traded on the exchange increased by 7 per cent to Rs 51,054 crore during Q2 FY 13 as compared to Rs 47,888 crore during the previous quarter.
According to data maintained by the commodity derivatives markets regulator the Forward Markets Commission (FMC), the value of the turnover traded on MCX represents 86.4 per cent of the Indian commodity futures industry for the half year ended Sept 30, 2012 as against 86 per cent in the fiscal 2012.
