Mumbai : Multi Commodity Exchange of India Ltd (MCX) announced its unaudited financial results for the third quarter & nine months ended December 31, 2018.
Quarter 3, FY 2019
- For the quarter ended December 31, 2018, MCX’s total income increased by 43% to Rs.109.10 crore from Rs.76.52 crore over the corresponding quarter ended December 31, 2017. While the operating income registered a growth of 22% to Rs. 76.93 crore from Rs. 62.81 crore in corresponding Q3 FY2018.
- EBITDA for the quarter ended December 31, 2018 increased by 83% to Rs.53.13 crore from Rs.29.08 crore over the corresponding quarter ended December 31, 2017.
- Net Profit for the quarter ended December 31, 2018, increased by 124% to Rs.41.99 crore from Rs.18.77 crore over the corresponding quarter ended December 31, 2017. Net Profit is the highest in the last 15 quarters.
- For the quarter ended December 31, 2018, the EBITDA margin was 49% and PAT margin was 38%.
Nine Months (9M) FY 2019
- For the nine months ended December 31, 2018, the total income of MCX stood at Rs.287.79 crore vis-à-vis Rs. 255.29 crore during the corresponding period in FY 2018.
- EBITDA for the nine months of FY 2019 stood at Rs.135.66 crore, as against Rs.114.92 crore in the corresponding period of FY 2018, an increase of 18%.
- Operating Revenue for the nine months ended December 31, 2018 stood at Rs.220.90 crore vis-à-vis Rs.189.27 crore during corresponding period in FY 2018, an increase of 17%.
- For the nine months ended December 31, 2018, the EBITDA margin was 47% and PAT margin was 30%.
Operational Performance
- The average daily turnover of commodity futures contracts traded on the Exchange increased by 32% to Rs. 26,614 crore in Q3 FY 2019 from Rs. 20,229 crore in the corresponding quarter of Q3 FY2018
- During nine months of FY2019 the Exchange’s market share in commodity derivative space has increased to 91.16% as against 89.73% in the corresponding nine months of FY2018.
- The average daily turnover (ADT) of commodity futures contracts increased by 24% to Rs. 25,205 crore during the nine months of FY2019, from Rs.20, 325 crore during the corresponding nine months of FY2018.
- The volume (in terms of commodity futures contracts traded on the Exchange) increased by 16 % in nine months of FY2019, to 175 million lots, as compared to 151 million lots traded in the corresponding nine months of FY2018.
Mr. Mrugank Paranjape, MD & CEO, MCX said, “We wrapped calendar year 2018 with a robust performance in the quarter ending December – in terms of revenue growth as well as operational metrics.
This stellar performance is a testament to the commitment and incessant efforts of the exchange to grow this business and also reflects the unflinching support of our members and other stakeholders. It is particularly pleasing to demonstrate consistent strong growth in this year as we traverse a challenging and competitive arena. MCX’s futures ADT grew 31.56% in this quarter as compared to the corresponding quarter of the previous year to an ADT of Rs 26,614 crore. This is the highest turnover in the 22 quarters since the levy of commodities transaction tax (CTT) in July 2013. The remarkable performance is attributable to robust volume growth across our bullion and energy segments. And as we come closer to the end of financial year, we continue to demonstrate the scalability of our business by maintaining our cost base well within committed numbers.
The faith of our stakeholders on the relevance, liquidity and robustness of the Exchange’s products and processes continues unabated, which is best reflected in the continued high Open Interest (OI) in some of the contracts traded on MCX. We remain committed to further strengthening our processes and creating products and systems in order to uphold the trust bestowed on us by our stakeholders. We are also encouraged by the positive regulatory developments that would facilitate institutional participation in commodity derivatives which should provide much more liquidity to the existing market and make the market more accessible.”