MCX Q3 Results: Net loss at ₹5.3 crore, revenue up 33% YoY; 5 key highlights
MCX Q3 Results: Multi Commodity Exchange of India Limited (MCX) announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a net loss of ₹5.3 crore, compared to a net profit of ₹39 crore in the year-ago period. On a sequential basis, the net loss of India’s largest Exchange in the commodity derivatives market segment narrowed 72 per cent to ₹19.07 crore in the preceding September quarter. The leading commodity derivate exchange's revenue from operations in the December quarter rose 33 per cent to ₹191.5 crore, compared to ₹143.6 crore in the same period last year.
‘’The total traded clients in derivatives on the exchange saw a growth of 50.8 per cent, reaching around 7.53 lakh during FY23-24 over the corresponding period last year,'' said MCX in a regulatory filing to the stock exchanges. On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) loss in the December quarter stood at ₹19.8 crore, compared to EBITDA of Rs. 44.14 crore in the corresponding period last year mainly on account of payment made to technology vendor and contribution to SGF.
For the quarter ended December 31, 2023, the total income of MCX stood at Rs.209.26 crore compared to Rs. 163.65 crore during the corresponding period in the previous year. MCX’s total income increased by 13.72 per cent to Rs.
209.26 crore from Rs. 184.02 crore over the sequential quarter ended September 30, 2023. EBITDA for the December quarter increased by 79.88 per cent to Rs.
1.97 crore from ₹9.79 crore over the sequential quarter ended September 30, 2023. EBITDA margin was 0.94 per cent mainly on account of payment made to technology vendor and contribution to SGF. The ADT of futures increased
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